Question 1165105: in planning her retirement Liza deposit some money at 3.5% interest with twice as much deposited at 5% find the amount deposited at each rate if the total annual interest income is $1755 she deposited blank at 3.5% in blank at 5%
Found 2 solutions by dkppathak, greenestamps:
Answer by dkppathak(439)   (Show Source):
You can put this solution on YOUR website! in planning her retirement Liza deposit some money at 3.5% interest with twice as much deposited at 5% find the amount deposited at each rate if the total annual interest income is $1755 she deposited blank at 3.5% in blank at 5%
solution
Let 3.5% amount is 2x and 5% rupees x
3.5*2x/110+5x/100=1755
7x+5x/100=1755
12x=175500
X=175500/12
X=14625
2x=2x14625=29250
answer 29250 at the rate pf 3.5% and 14625 at the rate of 5%
Answer by greenestamps(13203)  (Show Source):
You can put this solution on YOUR website!
The other tutor misread the problem, having twice as much at 3.5% as at 5%, instead of the other way around.
You can solve the problem by his method -- just make x the amount invested at 3.5% and 2x the amount invested at 5%.
Here is another way to solve the problem.
With twice as much invested at 5% as at 3.5%, the average rate of return is
Then, since the total interest was $1755,
The total amount invested was $39,000. With twice as much at 5% as at 3.5%, that means $13,000 at 3.5% and $26,000 at 5%.
ANSWER: $13,000 at 3.5%; $26,000 at 5%.
CHECK: .035(13000)+.05(26000) = 455+1300 = 1755
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