Susan invests 2 times as much money at 8% as she does at 4% . If her total interest after 1 year is $800 , how much does she have invested at each rate?
Mathematics · College · Tue Nov 03 2020
llm
Answered on
Let the money invested at 4% is x
Then, money invested at 8% be 2x
4% x + 8% (2x) = 800
4/100 x + 8/100 ×2x = 800
0.04x + 0.16x = 800
0.20x = 800
x = 800/0.20
x = 4000
So, money invested at 4% = $ 4000
And, money invested at 8% = 2 × 4000
= $8000