{"id":275479,"date":"2025-07-28T19:49:54","date_gmt":"2025-07-28T19:49:54","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=275479"},"modified":"2025-07-28T19:49:56","modified_gmt":"2025-07-28T19:49:56","slug":"alfredo-invested-a-total-of-33000-in-2-accounts-a-and-b-with-annual-interest-rates-of-5-and-3-respectively","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2025\/07\/28\/alfredo-invested-a-total-of-33000-in-2-accounts-a-and-b-with-annual-interest-rates-of-5-and-3-respectively\/","title":{"rendered":"Alfredo invested a total of $33,000 in 2 accounts, A and B, with annual interest rates of 5% and 3%, respectively"},"content":{"rendered":"\n

Alfredo invested a total of $33,000 in 2 accounts, A and B, with annual interest rates of 5% and 3%, respectively. For the first year, the interest earned by Account A was twice the interest earned by Account B. What was the total interest earned by the 2 accounts for the first year?
A. $1,290
B. $1,320
C. $1,350
D. $1,430
E. $2,475<\/p>\n\n\n\n

The correct answer and explanation is:<\/mark><\/strong><\/p>\n\n\n\n

Let the amount invested in Account A be xx. Therefore, the amount invested in Account B is 33,000\u2212x33,000 – x.<\/p>\n\n\n\n

The interest earned from Account A is 0.05×0.05x, and the interest earned from Account B is 0.03(33,000\u2212x)0.03(33,000 – x).<\/p>\n\n\n\n

We are told that the interest earned by Account A is twice the interest earned by Account B, which gives the equation: 0.05x=2\u00d70.03(33,000\u2212x)0.05x = 2 \\times 0.03(33,000 – x)<\/p>\n\n\n\n

Now, solve for xx: 0.05x=0.06(33,000\u2212x)0.05x = 0.06(33,000 – x) 0.05x=1,980\u22120.06×0.05x = 1,980 – 0.06x 0.05x+0.06x=1,9800.05x + 0.06x = 1,980 0.11x=1,9800.11x = 1,980 x=1,9800.11=18,000x = \\frac{1,980}{0.11} = 18,000<\/p>\n\n\n\n

So, Alfredo invested $18,000 in Account A and $33,000 – 18,000 = $15,000 in Account B.<\/p>\n\n\n\n

Next, calculate the total interest earned:<\/p>\n\n\n\n