Question

Jose invests money in two simple interest accounts. He invests twice as much in an account paying 10% as he does in an account paying 7%. If he earns $94.50 in interest in one year from both accounts combined, how much did he invest altogether?
Total Principal in Both Accounts = $

Answer 1

solve for x:

.1(2x) + .07x = 94.50

Answer 2

.1(2x)+.07x=94.50
.2x+.07x=94.50
.27x=94.50
Divide $94.50 by .27 to get X.
x= 350

Solve for 10%
2(350)=700

Add amounts together.
700+350= $1,050