answer the question in planning her retirement liza deposits some money at 2.5 interest with twice as much deposited at 4.5% if the total annual income at $2070

Answer 1

(0.045)2X + 0.025X = $2,070

.115X = 2070

X= 2070/.115 = $18,000 invested at 2.5%

2X = $36,000 invested at 4.5%

.045(36) + .025(18) = 16.2 + .45 = 2.07 thousand dollars annual income off the interest on $54,000 invested, $18,000 at 2.5% and $36,000 at 4.5%