SOLUTION: A man invests his savings in two accounts, one paying 6% interest per year and the other paying 7%. He has twice as much invested in the 7% account as in the 6% account, and his an
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Question 933761: A man invests his savings in two accounts, one paying 6% interest per year and the other paying 7%. He has twice as much invested in the 7% account as in the 6% account, and his annual interest income is $660. How much is invested in each account?
You can put this solution on YOUR website! Let x = the amount invested at 6%
2x = the amount invested at 7%
.06x+.07(2x)=660
.06x+.14x=660
.20x=660
x=3300
Substitute x with 3300
2(3300)=6600
$3300 is invested at 6% while $6600 is invested at 7%.
