Answered

In planning her​ retirement, Liza deposits some money at
3.5​%
​interest, with twice as much deposited at
4.5​%.
Find the amount deposited at each rate if the total annual interest income is
​$1875.



Answer :

sqdancefan

Answer:

  • $15000 at 3.5%
  • $30000 at 4.5%

Step-by-step explanation:

You want to know the amounts invested at each rate if twice as much is invested at 4.5% as at 3.5%, and the total earnings are $1875.

Interest earned

Let x represent the amount invested at 3.5%. Then 2x is the amount invested at 4.5%, and the total earnings are ...

  0.035x +0.045(2x) = 1875

  0.125x = 1875 . . . . . . . . . collect terms

  x = 15000 . . . . . . . . . divide by 0.125

  2x = 30000 . . . . . . . find the other value invested

The amount deposited at 3.5% is $15,000; the amount deposited at 4.5% is $30,000.

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