186k views
0 votes
Paul invested twice as much money in an account paying 4% interest

than he did in an account paying 3% interest. If the total interest paid
was $165, how much did he invest in each?
at 4% and $
at 3%

User Oozywaters
by
8.5k points

1 Answer

1 vote

Answer:

  • $3000 at 4%
  • $1500 at 3%

Explanation:

Let x represent the amount invested at 3%. Then the amount invested at 4% is 2x, and the total interest is ...

3%·x + 4%·2x = 165

11%·x = 165 . . . . . . . . . simplify

x = 165/0.11 = 1500

2x = 3000

Paul invested $3000 at 4% and $1500 at 3%.

User BrownBe
by
8.1k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories