Juan invests a total of $27,500 in two accounts paying 9% and 15% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $3,045.00.

Answer 1

0.09x + 0.15(27500 - x) = 3045

Can you solve for x and answer?

Answer 2

.15x + .09(27.5-x) = 3.045

.15x -.09x = 3.045 -.09(27.5)

.06x = 3.045 - 2,475 = .57

x = .57/.06 = 9.5= $9,500 invested at 15%

and 27.5-9.5 = $18,000 invested at 9%

check the answer

.15(9.5) +.09(18) = 1.425 + 1.62 = 3.045

average rate of return is slightly above 11% = 3.045/27.5

15-11 = 4

11-9 = 2

4/2 = 2 times as much, roughly invested at 9 than 15%

18/9.5 is almost 2