SOLUTION: A man invests his savings in two accounts, one paying 6% and the other paying 10% simple interest per year. He puts twice as much in the lower-yielding account because it is less r

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A man invests his savings in two accounts, one paying 6% and the other paying 10% simple interest per year. He puts twice as much in the lower-yielding account because it is less r      Log On


   



Question 1101517: A man invests his savings in two accounts, one paying 6% and the other paying 10% simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is $3,300. How much did he invest at each rate?
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
2x quantity in the low interest account
x quantity in the higher interest account

0.06%2A2x%2B0.1x=3300
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x%280.12%2B0.1%29=3300
x=3300%2F0.22
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