Posted by Julia on Saturday, February 14, 2009 at 4:05pm.
Ms. Buxx invested a total of $2000 in two saving accounts. The first account pays 3% intrest per year. The second accout pays 5% intrest per year. If the intrest form both accounts totals $84 dollars per year how much is invested in each account?
- Algebra 1 - drwls, Saturday, February 14, 2009 at 4:12pm
Solve these two equations in two unknowns. Let X be the amount invested at 3% and Y be the amount invested at 5%.
X + Y = 2000
0.03 X + 0.05 Y = 84
I recommend substituting 2000-X for Y in the second equaion, and than solving for X
The first step will give you
0.03 X + 0.05(2000-X) = 0
0.03 X + 100 - 0.05X = 0
Take it from there. Solve for X and then use Y = 2000 - X
- Algebra 1 - Logan, Saturday, February 14, 2009 at 4:17pm
But then you get x=5000. Which is much more than the investment.
- Algebra 1 - drwls, Saturday, February 14, 2009 at 4:24pm
My mistake, sorry.
0.03 X + 100 -0.05X = 84
16 = 0.02 X
X = 800
Y = 1200
- Algebra 1 - LITHIUM, Wednesday, December 12, 2012 at 10:17pm
really and truly it would be simpler if you multiply everything in the second equation by 100 then solve with whole numbers
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