SOLUTION: Anthony invested a certain amount of money into a savings accoun, and invested 3times that amount into a mutual fund. of after one year the savings account earned 5% interest and t

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Anthony invested a certain amount of money into a savings accoun, and invested 3times that amount into a mutual fund. of after one year the savings account earned 5% interest and t      Log On


   

Question 201754: Anthony invested a certain amount of money into a savings accoun, and invested 3times that amount into a mutual fund. of after one year the savings account earned 5% interest and the mutual fund earned 11% interest, and the total interest earned from the teo investments was $152, how much did Anthony initially invest in each? To earn credit, you MUST construct an algebraic euqation with a variable and solve using algebra steps
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
.05x+.11(3)x=152
.05x+.33x=152
.38x=152
x=400
savings=x=$400
mutual fund=3x=$1200