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?

Question

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?

Dr. Jane · Answer

.05(2x) + .04(x) = 378 solve for x and that is the amount at 4% and double x to find the amount at 5%