Homework Help: Intermidiate algebra

Posted by jay on Friday, October 19, 2012 at 9:55pm.

a woman ivests in two bank accounts, one with a 3% percent interest and the other paying 9% simple interest per year.She puts twice as much in the lower account. Her annual interest is 7110. How much did she invest in each account?

Intermidiate algebra - Reiny, Saturday, October 20, 2012 at 12:38am
higher account --- x
lower account ---- 2x

.09x + .03(2x) = 7110
.15x = 7110
x = 47400

$47400 at 9% and $94800 at 3%

check:
.09(47400) = 94800(.03) = indeed 7110

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