Question
Liza deposits money at 2.5% interest, with twice as much deposited at 3.5%. Find the amount deposited at each rate if the total annual interest income is $1520
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Answer to a math question Liza deposits money at 2.5% interest, with twice as much deposited at 3.5%. Find the amount deposited at each rate if the total annual interest income is $1520
Ali
4.492 Answers
Solution:
1. Let the amount deposited at 2.5% bex
2. The amount deposited at 3.5% is twice the amount at 2.5%, which is2x
3. The annual interest from the amount deposited at 2.5% is:
0.025x
4. The annual interest from the amount deposited at 3.5% is:
0.035 \cdot 2x = 0.07x
5. The total interest from both deposits is:
0.025x + 0.07x = 0.095x
6. We know that the total interest is given as USD 1520. Therefore, the equation is:
0.095x = 1520
7. Solve forx
x = \frac{1520}{0.095}
x = 16000
8. The amount deposited at 2.5% isx = 16000
9. The amount deposited at 3.5% is2x = 32000
Answer:
The amount deposited at 2.5% is USD 16000, and the amount deposited at 3.5% is USD 32000.
1. Let the amount deposited at 2.5% be
2. The amount deposited at 3.5% is twice the amount at 2.5%, which is
3. The annual interest from the amount deposited at 2.5% is:
4. The annual interest from the amount deposited at 3.5% is:
5. The total interest from both deposits is:
6. We know that the total interest is given as USD 1520. Therefore, the equation is:
7. Solve for
8. The amount deposited at 2.5% is
9. The amount deposited at 3.5% is
Answer:
The amount deposited at 2.5% is USD 16000, and the amount deposited at 3.5% is USD 32000.
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