Jolene invests hersavings in two bank accounts

Question

One pays 6 percent and the other pays 12 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 2424 dollars. How much did she invest at each rate?

Answer 1

.06(2x) + .12x = 2424

.24x = 2424

x = 2424/.24 = 101/.01 = $10,100 invested in 6%

2x = $20,200 invested in 12%