SOLUTION: Jolene invests her savings in two bank accounts, one paying 4 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account
Question 1149476: Jolene invests her savings in two bank accounts, one paying 4 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 7840 dollars. How much did she invest at each rate? Answer by ikleyn(52754) (Show Source): You can put this solution on YOUR website! .
0.04*(2x) + 0.08*x = 7840.
Solve for x, which is the investment at 8%.
Then calculate 2x, which is the amount invested at 4%.