SOLUTION: Bob invested some money at 5% simple interest and some at 9% simple interest. The amount invested at the higher rate was twice the amount invested at the lower rate. If the total
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Question 190385This question is from textbook algebra for college students
: Bob invested some money at 5% simple interest and some at 9% simple interest. The amount invested at the higher rate was twice the amount invested at the lower rate. If the total interst on the investments for 1 year was $920, then how much did he invest at each rate?
I know what the answer is but I have tried every forumla and can't figure out where the numbers come from. The anser is $4000 @ 5% and $8000 @ 9%. Your help is greatly appreciated! This question is from textbook algebra for college students
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