SOLUTION: Cynthia invested three times as much money at 6% as at 5%. If the total simple interest for one year is $1150, how much has Cynthia invested at 5%?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Cynthia invested three times as much money at 6% as at 5%. If the total simple interest for one year is $1150, how much has Cynthia invested at 5%?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 8598: Cynthia invested three times as much money at 6% as at 5%. If the total simple interest for one year is $1150, how much has Cynthia invested at 5%?
Answer by rapaljer(4671) About Me  (Show Source):
You can put this solution on YOUR website!
Let x = amount invested at 5%
3x= amount invested at 6%

Total interest =
.05x + .06(3x) = 1150
.05x + .18x = 1150
.23x = 1150

Divide both sides by .23
x+=+1150%2F.23
x= $5000 at 5%
3x = $15000 at 6%

Check: $.05(5000) + $.06(15000) = $1150

R^2 at SCC