SOLUTION: A woman invested 4 times as much at 5% as she did at 6%. The total amount of interest she earns in one year from both accounts is $520. How much did she invest at each rate?

Question 905013: A woman invested 4 times as much at 5% as she did at 6%. The total amount of interest she earns in one year from both accounts is $520. How much did she invest at each rate?

Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!

We know that the interest for the two accounts is $520
0.05*x+0.06*y=520
We know that the account at 5% has 4 times the amount at 6%
We substitute for x
0.05*(4*y)+0.06*y=520
We multiply out
(0.2+0.06)*y=520
We combine like terms.
0.26*y=520
Isolate y
y= 2000.00
y=$ 2000.00 at 6%
Calculate x
x=4*y
x=$ 8000.00 at 5%
Your total is $ 8000.00
Your total is $ 2000.00
Your total is $10000.00
Total invested $ 8000.00 + $ 2000.00=$10000.00
We check
0.05* 8000.00+0.06* 2000.00=520
400.00+ 120.00=520
520=520
Since this statement is TRUE and neither is negative then all is well.

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