SOLUTION: Jolene invests her savings in two bank accounts, one paying 6 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account
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Question 1130090: Jolene invests her savings in two bank accounts, one paying 6 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 9060 dollars. How much did she invest at each rate? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x principal at 8%
2x principal at 6%
interest is .08x+.12x=.20x=9060
x=$45300 @ 8% is $3624
2x=$90600 @ 6% is $5436
add to $9060.
