Raymond B. answered 03/11/20
Math, microeconomics or criminal justice
.05(2x) + .10(x) = 6900
.20x = 6900
x = $34500 at 10%
2x = $6900 at 5%
.05 x $6900 = $3450 + .10 x $34500 = $3450 for total $6900 interest
Jessica O.
asked 11/10/18Jolene invests her savings in two bank accounts, one paying 5 percent and the other paying 10 percet simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 6900 dollars. How much did she invest at each rate?
Raymond B. answered 03/11/20
Math, microeconomics or criminal justice
.05(2x) + .10(x) = 6900
.20x = 6900
x = $34500 at 10%
2x = $6900 at 5%
.05 x $6900 = $3450 + .10 x $34500 = $3450 for total $6900 interest
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