Answer: $16,000 and $32,000
Step-by-step explanation:
given data:
annaul interest income = $2080
first deposit rate = 4%
second deposit rate = 4.5%
Solution:
let x = amount invested at 4%.
let 2x = amount invested at 4.5%.
0.04x + 0.045* 2x = $2080
0.04x + 0.09x = $2080
0.13x = $2080
divide both sides by 0.13
x = $16,000
amount deposited at 4% = $16,000.
amount deposited at 4.5%
2x = 2( $16,000 )
= $32,000
