SOLUTION: A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account becaus
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account becaus
Log On
Question 698427: A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 3850 dollars. How much did he invest at each rate?
Your answer is
total in the account paying 6 percent interest is
total in the account paying 10 percent interest is Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 3850 dollars. How much did he invest at each rate?
**
let x=amt invested at 10% rate
2x=amt invested at 6% rate
..
10%x+6%*2x=3850
0.10x+.12x=3850
.22x=3850
x=17500
2x=35000
amt invested at 10% rate=17500 dollars
amt invested at 6% rate=35000 dollars
(