Alicia can row 6 miles downstream in the same time it takes her to row 4 miles upstream. She rows downstream 3 miles/hour faster
2 answers:
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Let <em>A</em> be the amount of money that Aliya deposited in the savings account. Since <em>A</em> is half as much as money as she invested in a money market account, then the amount that she invested in the market account is <em>2A.</em>
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Express the interest that Aliya earned in terms of A. Set it equal to the amount of $297.60 and then solve for <em>A</em>.
Since the savings account gives 1.9% simple interest, the total amount of interest that she will earn from the savings account is 1.9% of A, which is equal to:
Since the money market account gives 3.7% simple interest, the total amount of interest that she will earn from the money market account, is 3.7% of <em>2A</em>, which is equal to:
Add both interests in terms of A and simplify the expression:
The expression (9.3/100)*A represents the total interest after one year. Then:
Use the value of <em>A</em> to find the amount that was invested in the money market account:
Therefore, Aliya deposited 3200 in a savings account and 6400 in a money market account.