Aperson plans to invest four times as much in an account at 5.5% interest as in an account at 14% annual interest. how much should the person invest in each account to earn a total of $550 in one year?

x = amount invested at 14%

4x = amount invested at 5.5%, 4 times as "x".

Account A earns at a 5.5% interest rate

Account B earns at a 14% interest rate

We want to invest 4 times as much in account A compared to account B

Let x be the amount invested in account B. So the amount invested in account A is 4x.

Use the simple interest formula, i = P*r*t, to find that

interest earned with account A = 4x*0.055*1 = 0.22x

interest earned with account B = x*0.14*1 = 0.14x

Add these up and set this equal to 550. Solve for x. Then compute 4x.

0.22x+0.14x = 550

0.36x = 550

x = 550/0.36

x = 1527.77777777778

x = 1527.78  round to the nearest penny

4x = 4*1527.78

4x = 6111.12

6111.12 dollars needs to be invested at 5.5%

1527.78 dollars needs to be invested at 14%

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