Question 1152544
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Here is an unorthodox way of solving the problem that works for me....<br>
(1) Determine the average interest rate, given that 4 times as much was invested at 3% as at 6%:<br>
{{{(4(.03)+1(.06))/5 = 0.036}}}<br>
(2) Determine the total amount invested, given the interest of $1620 and knowing the average interest rate:<br>
{{{0.036(x) = 1620}}}
{{{x = 1620/0.036 = 45000}}}<br>
(3) Divide the total of $45,000 in the ratio 4:1<br>
ANSWER: $36,000 at 3%; $9000 at 6%<br>
CHECK: .03(36000)+.06(9000) = 1080+540 = 1620<br>