Sarah wants to deposit $2,125 into savings accounts at three different banks: Bank of the US, 7/4 Bank, and Catch Bank. She will deposit four times as much into Catch Bank as 7/4 Bank because they offer a higher interest rate. She also expects the Bank of the US deposit to be 25% of the total of the other two deposits. How much will Sheila deposit into the Bank of the US savings account?

$340
$425
$515
$1,360

Question

Sarah wants to deposit $2,125 into savings accounts at three different banks: Bank of the US, 7/4 Bank, and Catch Bank. She will deposit four times as much into Catch Bank as 7/4 Bank because they offer a higher interest rate. She also expects the Bank of the US deposit to be 25% of the total of the other two deposits. How much will Sheila deposit into the Bank of the US savings account? 

    $340
    $425
    $515
    $1,360

anonymous · Answer

I got 425 but I feel like maybe I did something wrong.

anonymous · Answer

x = Bank of US
y = 7/4 bank
z = Catch bank

x + y + z = 2125

x = sum of the other two divided by 4.  (y + 4y)/4
y = y
z = 4y

(4y + y) + (4y+y)/4 = 2125

5y + 5y/4 = 2125

y = 340

x = (340+340*4)/4 = 425

z = 4*340 = 1360

yes she did deposit $425 into the Bank of US.

anonymous · Answer

Okay that looks like my work too. Thank you so much!!

anonymous · Answer

you're welcome