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Home Q & A Board Science-Related Homework Help Mathematics
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Ocath Ocath
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11 years ago
A man invests his savings in two accounts, one paying 6% and the other paying 10% simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is $2288 dollars. How much did he invest at each rate?
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rk90rk90
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11 years ago
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11 years ago
Use a table-

type ----- amount ----- % as decimal ----- interest
6% --------- 2x --------------------- .06 ------------ .12x
10% --------- x -------------------- .10 ------------- .10x

.12x + .10x = 2288
.22x = 2288
x = 10400
10400 @ 10%, 20800 @ 6%
1040 + 1248 = 2288
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