Susan invests twice as much money at 7.5% as she does at 6%. If her total interest after a year is $840 how much does she have invested at each rate?

Question

Mathematics

Angelica Goodman

25 May, 17:18

Susan invests twice as much money at 7.5% as she does at 6%. If her total interest after a year is $840 how much does she have invested at each rate?

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Answers (1)

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Lance Lamb · Answer 1

Let x be the amount invested at 6%

840 = 0.06x + 0.075 (2x)

840 = 0.06x + 0.15x

840 = 0.21x

x = 840/0.21

x = 4000

Therefore, she invests $4000 at 6% and $8000 at 7.5%