A invested some $ @ 5%, 3X as much @ 11%; total int. $152 pd

[Garry]

Anthony invested a certain amount of money into a savings account, and invested 3 times that amount into a mutual fund. If after one year the savings account earned 5% interest and the mutual fund earned 11% interest, and the total interest earned from the two investments was $152, how much did Anthony initially invest in each?... construct an algebraic equation with a variable and solve using algebra steps.

 

[galactus]

Re: Algebra

You're given all the info. Set up two equations.

S=savings, M=mutual fund

We are told the mutual fund has three times as much, m=3S

The total interest is $152: .05S+.11M=152

You have two equations in two unknowns:

\(\displaystyle M=3S\)
\(\displaystyle .05S+.11M=152\)

Solve away.