SOLUTION: Maria earns 2% annually in an online savings account and 4.5% in mutual funds. She invested twice as much in mutual funds than the online savings account and earned a total of $308
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Question 1048323: Maria earns 2% annually in an online savings account and 4.5% in mutual funds. She invested twice as much in mutual funds than the online savings account and earned a total of $308 in annual investment income from the two accounts.
Maria invested $ ? In the online savings account and $ ? In mutual funds. Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let n be the amount invested in savings. Then mutual funds are 2n. So:
.02n+.045(2n)=308
.11n=308
n=$2800 invested in savings;$5600 invested in mutual funds. ☺☺☺☺
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