SOLUTION: paul invested twice as much in an account paying 5% intrest as he did in an account paying 4% interest. If the total interest paid was $420.00, how much did he invest in each accou

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: paul invested twice as much in an account paying 5% intrest as he did in an account paying 4% interest. If the total interest paid was $420.00, how much did he invest in each accou      Log On


   

Question 1116724: paul invested twice as much in an account paying 5% intrest as he did in an account paying 4% interest. If the total interest paid was $420.00, how much did he invest in each account?
Answer by ikleyn(52809) About Me  (Show Source):
You can put this solution on YOUR website!
.
interest  + interest = total interest


0.05*(2x) + 0.04*x   = 420


0.1x + 0.04x = 420


0.14x = 420  ====>  x = 420%2F0.14 = 3000.


Answer.  $3000 was invested at 4%  and  $6000  was invested at 5%.


Check.   0.05*6000 + 0.04*3000 = 420.    ! Correct !

Solved.