Solve each problem. See the strategy for problem solving.
STRATEGY Problem Solving
1. Read the problem as many times as necessary to get an understanding of the problem.
2. If possible, draw a diagram to illustrate the problem.
3. Choose a variable, write down what it represents, and if possible, represent any other unknown quantities in terms of that variable.
4. Write an equation that models the situation. You may be able to use a known formula, or you may have to write an equation that models only that particular problem.
5. Solve the equation.
6. Check your answer by using it to solve the original problem (not just the equation).
7. Answer the question posed in the original problem.
Combining Investments Brent lent his brother Bob some money at 8% simple interest, and he lent his sister Betty half as much money at twice the interest rate. Both loans were for one year. If Brent made a total of 24 cents in interest, then how much did he lend to each one?
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