Question 993310: A women invested some money in a credit union paying 5% annual simple interest and three times as much in a money market account paying 4.25% annual simple interest. If she earned $1,420 interest in one year, how much did she invest in each account?
Answer by addingup(3677)   (Show Source):
You can put this solution on YOUR website! Let's call the money at 5% x. She earned:
0.5x+0.425(3x)= 1,420
Multiply:
0.5x+1.275x= 1,420
Add:
1.775x= 1,420
Divide both sides by 1.775
x= 800 She has 800 at 5% and 3×800= 2,400 at 4.25%
Proof:
(800×0.5)+(2,400×0.425)=
400+1,020= 1,420 We have the correct answer.
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