SOLUTION: In planning her retirement, Liza deposits some money at 2.5% interest, with twice as much deposited at 3.5%. Find the amount deposited at each rate if the total annual interest in
Algebra ->
Percentage-and-ratio-word-problems
-> SOLUTION: In planning her retirement, Liza deposits some money at 2.5% interest, with twice as much deposited at 3.5%. Find the amount deposited at each rate if the total annual interest in
Log On
Question 974236: In planning her retirement, Liza deposits some money at 2.5% interest, with twice as much deposited at 3.5%. Find the amount deposited at each rate if the total annual interest income is $1235. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! In planning her retirement, Liza deposits some money at 2.5% interest, with twice as much deposited at 3.5%. Find the amount deposited at each rate if the total annual interest income is $1235.
-------
Equation:
int + int = int
0.025x + 0.035(2x) = 1235
------------------------------
25x + 70x = 1235000
-------
95x = 1235000
x = $13000 (amt. invested at 2.5%)
----
2x = $26000 (amt. invested at 3.5%)
------
Cheers,
Stan H.
(