SOLUTION: A woman earns $960 in interest from two accounts in a year. If she has three times as much invested at 9% as she does at 5%, how much does she have in each account?

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Question 1162038: A woman earns $960 in interest from two accounts in a year. If she has three times as much invested at 9% as she does at 5%, how much does she have in each account?
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52866)   (Show Source): You can put this solution on YOUR website!
.

0.05*x + 0.09*(3x) = 960


0.05x + 0.27x = 960


032x = 960


x =  =  = 3000.


ANSWER.  $3000 at 5%  and  $9000  at 9%.



CGECK.   0.05*3000 + 0.09*9000 = 960 dollars.   ! Correct !

Solved.



Answer by greenestamps(13206)   (Show Source): You can put this solution on YOUR website!


If she has three times as much invested at 9% as at 5%, then the average rate is 8%:



Since the average interest rate was 8% and the interest was $960, the amount invested was $960/.08 = $12,000.

Then again since she had three times as much invested at 9% as at 5%, since the total was $12,000 the two amounts were $9000 at 9% and $3000 at 5%.
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