Jolene invests her savings in two bank accounts, one paying 5 percent and the other paying 9 percent simple interest per year.

Question

Jolene invests her savings in two bank accounts, one paying 5 percent and the other paying 9 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 4598 dollars. How much did she invest at each rate?

Amount invested at 5 percent interest is $

Amount invested at 9 percent interest is $

Answer 1

.05(2x)+ .09x = 4598

.1x +.09x = 4598

.19x = 4598

x = 4598/.19 = $24,200 invested at 9%

$48,400 invested at 5%

.05(48400) + .09(24200) = 2420 +2178 = 4598

total invested = $72600, with return $4598

4598/72600 = 6 1/3 %= average return

9 is within 2 2/3 of 6 1/3

5 is within 1 1/3 of 6/13

2 2/3 is twice 1 1/3

48,400 is twice 24200