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

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> 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       Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!

   

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(48558) About Me  (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?
--------------------------------------------------------------------
Quantity Equation: f = 2t
Interest Equation:0.05f + 0.02t = 84 dollars
-------------------------------------------------
Substitute for "f" and solve for "t":
Also Multiply thru the equation by 100:
---
5(2t) + 2t = 8400
12t = 8400
---
t = 700 (amt. invested at 2%)
---
f= 2t = $1400 (amt. invested at 5%)
=========================================
Cheers,
Stan H.