SOLUTION: Jolene invests her savings in two bank account, one paying 3 percent and the paying 9 percent simple interest per year. She puts twice as much in the lower-yielding account because
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Question 1025163: Jolene invests her savings in two bank account, one paying 3 percent and the paying 9 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 2925 dollars.
Amount invested at 3 percent interest is $
Amount invested at 9 percent interest is $ Answer by fractalier(6550) (Show Source):
You can put this solution on YOUR website! Call what she invests at 9%, x. That means she invests 2x at 3%. The setup then looks like this:
.09x + .03(2x) = 2925
.09x + .06x = 2925
.15x = 2925
x = 2925/.15 = $19500 invested at 9% and then
2x = $39000 invested at 3%
