A woman invested 5 times as much at 4% as she did at 6%. The total amount of interest she earns in 1 year from both accounts is $1,040. How much did she invest at each rate?

Answer 1

I = p(1 + rt) Simple interest formula

1040 = 5p(1 + .04) + p(1 + .06) t = 1year

1040 = 5p(1.04) + p(1.06)

1040 = 5.2p + 1.06p

1040 = 6.26p

p = 166.13, 5p =830.67

The woman invested $830.67 @ 4% and $166.13 @ 6%.

Answer 2

(0.06)(x) + (5)(0.04)(x) = 1040

0.06x +0.2x = 1040

Can you solve for x and answer?