In planning her retirement. janet deposits some money at 2.5% interest, with twice as much deposited at 3%. find the amount deposited at each rate if the total annual interest income is $850

For this item, it is assumed that we are to determine the values of money or amounts that are invested in each of the given rates. To solve, we let x be the amount deposited at 2.5%. With this representation, the amount deposited at 3% is 2x. The interest for the investment done is calculated through the equation,
      I = P x i
where I is the interest, P is the present value, and i is the interest rate.

Substituting the known values for this item,
     850 = (x)(0.025) + (2x)(0.03)

Simplifying,
   850  = 0.025x + 0.06x
Further simplification,
   850 = 0.085x

The value of x from the equation is $10,000.

ANSWERS:
  amount invested with 2.5% interest is $10,000 and
  amount invested with 3% interest is $20,000

There are three key entities in thefederal reserve system: the  board  of governors, the  federal reserve banks(reserve banks), and the  federal  open market committee (fomc). while the  federal reserve  has frequent communication with executive branch and congressional officials, its decisions are made independently.