SOLUTION: Norma earns 1.5% annually in an online savings account and 4% in mutual funds. She invested twice as much in mutual funds than the online savings account and she earned a total of
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Question 1048327: Norma earns 1.5% annually in an online savings account and 4% in mutual funds. She invested twice as much in mutual funds than the online savings account and she earned a total of $237.50 in annual investment income from the two accounts.
Norma invested $ ? In the online savings account and $ ? In mutual funds. Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! 0.015x+0.04(2x) = 237.50
0.015x+0.08x = 237
0.095x = 237
x = 237/0.095 = 2,494.74 is what she has invested at 1.5% and she invested twice as much in mutual funds: 2,494.74*2 = 4,989.44
