Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 12 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 3312 dollars. How much did she invest at each rate? Amount invested at 3 percent interest is $ Amount invested at 12 percent interest is $

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
icon
Related questions
icon
Concept explainers
Topic Video
Question
100%
Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 12
percent simple interest per year. She puts twice as much in the lower-yielding account because it is
less risky. Her annual interest is 3312 dollars. How much did she invest at each rate?
Amount invested at 3 percent interest is $
Amount invested at 12 percent interest is $
Transcribed Image Text:Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 12 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 3312 dollars. How much did she invest at each rate? Amount invested at 3 percent interest is $ Amount invested at 12 percent interest is $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
Algebra
ISBN:
9780134463216
Author:
Robert F. Blitzer
Publisher:
PEARSON
Contemporary Abstract Algebra
Contemporary Abstract Algebra
Algebra
ISBN:
9781305657960
Author:
Joseph Gallian
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Algebra And Trigonometry (11th Edition)
Algebra And Trigonometry (11th Edition)
Algebra
ISBN:
9780135163078
Author:
Michael Sullivan
Publisher:
PEARSON
Introduction to Linear Algebra, Fifth Edition
Introduction to Linear Algebra, Fifth Edition
Algebra
ISBN:
9780980232776
Author:
Gilbert Strang
Publisher:
Wellesley-Cambridge Press
College Algebra (Collegiate Math)
College Algebra (Collegiate Math)
Algebra
ISBN:
9780077836344
Author:
Julie Miller, Donna Gerken
Publisher:
McGraw-Hill Education