* 23% 9:47 PM myopenmath.com .oooo AT&T; Q 23 [1 / 1] Q 24 [1 / 1> Q 25 (O/2) Q

Question

* 23% 9:47 PM myopenmath.com .oooo AT&T; Q 23 [1 / 1] Q 24 [1 / 1> Q 25 (O/2) Q 26 [1/Q 27 (0/2) Q 28 [3/3] Q 32 (0/2) Q 33 [1 / 1] Q 35 (0/1)Q36 (0/1) Q 38 (0/ 1 ) Q 39 (0/ 1 ) Q 34 [1/I] Q 37 (0/1) Grade: 44/72 Print Version Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 2170 dollars. How much did she invest at each rate? Amount invested at 3 percent interest is S Amount invested at 8 percent interest is S Get help: Video License Points possible: 2 This is attempt 1 of 2. Submit

Explanation / Answer

lets say she invested a in the 8% interest account

so she invested 2a in the 3% interest account.

Interest = pricipal * time * interest rate

total interest = a(0.08)*1 + 2a (0.03)*1 = 0.08a + 0.06a = 0.14a = 2170

a = 2170/0.14 = 217000/14 = 15,500

so in lower risk he invested 31,000

and in higher risk account, he invested 15,500

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