A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 418 dollars. How much did he invest at each rate?

  1. 👍
  2. 👎
  3. 👁
  1. if he has $x at 10%, then

    .06(2x) + .10x = 418
    .12x + .10x = 418
    .22x = 418

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    Heather has divided $8000 between two investments, one paying 8% and the other paying 6%. If the return on her investment is $550 how much does she have in the larger investment?

  2. Financial Management

    Which of the following is NOT an example of an agency cost? A. Paying an accounting firm to audit your financial statements. B. Paying an insurance company to assure that building codes have been met for new construction. C.

  3. math

    Jose invests money in two simple interest accounts. He invests twice as much in an account paying 10% as he does in an account paying 7%. If he earns $94.50 in interest in one year from both accounts combined, how much did he

  4. accounting

    Specify which of the following cash transactions would have resulted in the $4,100 posting to the account. (You select more than one answer. Single click the box with a check mark for correct answers and double click to empty the

  1. Math

    You invested $14,000 in two accounts paying 5% and 9% annual interest, respectively. If the total interest earned for the year was $820, how much was invested at each rate?

  2. Business Math

    Alicia Eastman deposited $2,000 in a savings account at the Biltmore Bank paying 6% ordinary interest. How many years will it take for her investment to amount to $2,600? Using the scenario from the previous question, determine

  3. algebra

    Dilbert invests a total of $14,000 in two accounts paying 9% and 15% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,350.00. A) Enter an equation that uses the

  4. Accounting

    Working capital Management Indicate how each of the following six different transactions Dynamic mattress might make would would affect I) cash and II)Networking capital A) Paying out a $2 million cash dividend B) A customer

  1. annual interest

    you invested 12000 in two accounts paying 5% and 7% annual interest. If the totak interest earned for the year was 760 how much was invested at each rate?

  2. College Math

    Ed Moura has $29,000 invested in stocks paying 5%. How much additional money should he invest in certificates of deposit paying 2% so that the average return on the two investments is 3%?

  3. math

    12.‚Äč You has investments totaling $8000 in two accounts: a savings account paying 5% interest, and the other a bond paying 8% interest. If the amount of interest after one year from both investments was $600, how much did you

  4. math

    after winning $280,000 in the lottery, maurika deided to place the money in three different investments : a certificate of deposit paying 4% , a money market certificate paying 5% , and some Aa bonds paying 7%. After 1 year she

You can view more similar questions or ask a new question.