Asked by Joel
melissa invested a some of money at 3% annual simple inter she invested 3 times that some at 5 % annual simple interest
if her total yearly interest from both investments was 7200 how much was invested at 3% ?
if her total yearly interest from both investments was 7200 how much was invested at 3% ?
Answers
Answered by
Henry
Invested $X @ 3%.
Invested $3X @ 5%.
0.03X + 0.05*3X = 7200.
0.03X + 0.15X = 7200,
0.18X = 7200.
X = $40,000.
Invested $3X @ 5%.
0.03X + 0.05*3X = 7200.
0.03X + 0.15X = 7200,
0.18X = 7200.
X = $40,000.
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