621
Points
Questions
14
Answers
2

Asked on April 29, 2017 in Algebra.
Let’s say Jolene places amount j in the higheryield account (11%) and 2j in the lower yield account (4%)
She stands to earn 0.11j + 0.04 (2j) as interest after the first year.
0.11j + 0.08j = 2812
0.19j = 2812
j = 14,800
So she has invested $14,800 in the higher yield account and $29,600 in the lower yield account.
 249 views
 1 answers
 0 votes

Asked on April 29, 2017 in Algebra.
Let’s say there was x amount in the first account and 7600x in the second.
Interest at the end of first year should be 0.12x + 0.03 (7600 – x) = 714
0.12x + 228 – 0.03x = 714
0.09x = 486
x = 5400
So the amount in the first account was $5400 and in the second, was $2000
 392 views
 1 answers
 0 votes