Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 10 percent simple interest per year.

Question

Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 10 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 7472 dollars. How much did she invest at each rate?

Amount invested at 3 percent interest is______ $

Amount invested at 10 percent interest is______ $

Answer 1

I wrote-up a formula: .666*x*.03+.333*x.1=7472.

x=$140250

x*.666=$93406

" .333=$46843

Answer 2

0.10x + 0.03(2x) = 7472

Can you solve for x and answer?