Does anyone know how to solve this?
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Given
Paul invested three times as much money in the account paying 5% interest then he did in an account paying 4%.
Total interest paid was $475
Find out he invest in each.
To proof
Let us assume that Paul invested in an account paying 4% be = x
As given in the question
Paul invested three times as much money in the account paying 5% interest then he did in an account paying 4%.
Let us assume that Paul invested in an account paying 5% be = 3x
Total interest paid = $475
First convert 4% in the decimal form
= 0.04
First convert 5% in the decimal form
= 0.05
Than the equation become in the form
0.04x + 0.05 × 3x = 475
0.04x + 0.15x = 475
0.19x = 475
x = $2500
Paul invested in an account paying 4% be = $2500
Paul invested in an account paying 5% be = $7500
Hence proved