SOLUTION: Jolene invests her savings in two bank accounts, one paying 3% and the other paying 9% simple interest per year. She puts twice as much in the lower-yielding account because it is
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Question 1025543: Jolene invests her savings in two bank accounts, one paying 3% and the other paying 9% 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. How much did she invest at each rate?
Amount invested at 3% interest is
Amount invested at 9% interest is Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Jolene invests her savings in two bank accounts,
one paying 9% simple interest . Amount = x
one paying 3% and per year. Amount = 2x She puts twice as much in the lower-yielding account
Her annual interest is 2925 dollars.
2x*3%+x*9% = 2925
multiply by 100
2x+x = 292500
3x=292500
x=97500
Amount invested at 3% interest is 195000
Amount invested at 9% interest is = 97500
