# SOLUTION: Hello Here is a word problem I am having trouble with. Bob invests in two different retirement funds. He invests some money in a fund with 3% interest and twice as much money

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 Question 604463: Hello Here is a word problem I am having trouble with. Bob invests in two different retirement funds. He invests some money in a fund with 3% interest and twice as much money in another fund at 4.5% interest. Find the amount deposited at each rate if the total annual interest income is \$3,000. Here is the equation I have written but not sure if it is correct. Thanks Answer by mananth(12270)   (Show Source): You can put this solution on YOUR website!Part I 3.00% per annum ------------- x Part II 4.50% per annum ------------ y y=2x Interest----- 3000 3.00% x + 4.50% * 2 x = 3000 0.03 x + 0.045 * 2 x = 3000 0.03 x + 0.09 x = 3000 0.12 x = 3000 / 0.12 x= 25000 --- Fund A 2 x = 50000 Fund B CHECK 25000 @ 3.00% = 750 50000 @ 4.50% = 2250 Interest= 3000