Asked by Jon
Joan Arlington has twice as much money invested at 5% simple annual interest as she does at 4%. If her yearly income from the two investments is $378, how much does she have at each rate?
Answers
Answered by
Dr. Jane
.05(2x) + .04(x) = 378
solve for x and that is the amount at 4% and double x to find the amount at 5%
solve for x and that is the amount at 4% and double x to find the amount at 5%
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