SOLUTION: Bill invests in a plan that has an interest rate of 5%. He invests two times as much in a plan that has an interest rate of 6%. If the total interest from the investments is $357 a
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-> SOLUTION: Bill invests in a plan that has an interest rate of 5%. He invests two times as much in a plan that has an interest rate of 6%. If the total interest from the investments is $357 a
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Question 1083547: Bill invests in a plan that has an interest rate of 5%. He invests two times as much in a plan that has an interest rate of 6%. If the total interest from the investments is $357 after one year, how much was invested in each plan? Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! 0.05x+0.06(2x) = 357
0.05x+0.12x = 357
0.17x = 357
x = 2,100 this is the amount invested at 5%
The amount at 6% is 2*2,100 = 4,200
