Question

Julie wants to buy a new house. She works as a lawyer and her salary for this year was $120,000. She spent 20% of her salary on her current bills (which include water, electricity, cable, and her rent). After she pays for her bills, she deposits some of the money she has left into her ING Direct Savings account, which earns 5% interest per year. She deposits some amount of her remaining money into a TD Bank Savings account and into a Wachovia Savings account. TD Bank Savings pays 1% interest per year while Wachovia Savings pays 0.5% interest per year. Part 2 continued below.

Answer 1

I feel like i'm missing some of the question

Answer 2

120,000-(.20(120,000))=96,000 correct? after she pays the bills

Answer 3

Oh it was clipped off. One sec.

Answer 4

Julie deposits $20,000 plus
three times the amount in the TD Bank Savings account into the ING Direct Savings
account in order to earn more money on interest between all of her bank accounts. She
deposits $5,000 less than half of the amount in the ING Direct Savings account into the
Wachovia Savings account. After 1 year, Julie has earned at least $2,800 in interest from
all of her bank accounts, but no more than $3,000. What is the minimum amount of
money that she could have deposited into the ING account? What is the maximum
amount of money that she could have deposited into the Wachovia account?