Betty invested some money at 15% interest. Betty also invested $⁢237 more than 2 times that amount at 13%. How much is invested at each rate if Betty receives $⁢1688.03 in interest after one year? (Round to two decimal places if necessary.)

Question

Mathematics

Summer Mathis

10 June, 14:17

Betty invested some money at 15% interest. Betty also invested $⁢237 more than 2 times that amount at 13%. How much is invested at each rate if Betty receives $⁢1688.03 in interest after one year? (Round to two decimal places if necessary.)

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Answers (1)

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Kash Osborn · Answer 1

Let x represent the amount Betty invested at 15%. The (2x+237) is the amount Betty has invested at 13%. Her total earnings are ...

x*0.15 + (2x+237) * 0.13 = 1688.03

0.41x + 30.81 = 1688.03

x = (1688.03 - 30.81) / 0.41 = 4042.00

Betty has $4042.00 invested at 15%.

Betty has $237 + 2*4042 = $8321.00 invested at 13%.