SOLUTION: Janet invested her savings in two accounts. One of the accounts paid 2% intrest, and the other paid 5%. Janet put twice as much money int eh account that paid 5% as she put in the

Question 212565This question is from textbook Elementary and intermediate algebra
: Janet invested her savings in two accounts. One of the accounts paid 2% intrest, and the other paid 5%. Janet put twice as much money int eh account that paid 5% as she put in the account that paid 2%. if she earned a total of $84 in intrest from the two accounts in one year, find the amount invested in each fund? This question is from textbook Elementary and intermediate algebra

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Janet invested her savings in two accounts. One of the accounts paid 2% intrest, and the other paid 5%. Janet put twice as much money in the account that paid 5% as she put in the account that paid 2%. If she earned a total of $84 in interest from the two accounts in one year, find the amount invested in each fund?
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Quantity Equation: f = 2t
Interest Equation:0.05f + 0.02t = 84 dollars
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Substitute for "f" and solve for "t":
Also Multiply thru the equation by 100:
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5(2t) + 2t = 8400
12t = 8400
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t = 700 (amt. invested at 2%)
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f= 2t = $1400 (amt. invested at 5%)
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Cheers,
Stan H.

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