Question 1186851

Douglas invests money in two simple interest accounts. He invests three times as much in an account paying 14% as he does in an account paying 5%. If he earns $152.75 in interest in one year from both accounts combined, how much did he invest altogether?

Total Principal in Both Accounts = $ 

 an account pays 5% Assume the amount is $x  ( 0.05)

Second account will be 3x @ 14%   (0.14)

he earns $152.75 in interest in one year

Interest equation
0.05x + 0.14(3x) = 152.75

0.05x +0.42x =152.75

0.47x = 152.75

x = 152.78/0,47

x = 325.06
3x = 3*325.06 =975.18