Please help me do these problems. I don't understand how to do weighted averages.
Mrs. Gleason invested a portion of 32000 dollars at 9% interest and the balance at 11% interest. How much did she invest at each rate if her total income from both investments was 3200
Let x = one investment and 32000-x = the other.
.09x + .11(32000-x) = 3200
Solve for x.
a deposit of $2500 grew to $3325 after six years. what is the final value of a deposit of $7500 at the same interest rate for the same period of time?.
you shouldn't rely on others btw
To solve this problem using weighted averages, you need to apply the concept of weighted averages. Here are the steps to find the solution:
Step 1: Assign variables
Let's assign variables to the unknown amounts.
Let x be the amount invested at 9% interest.
32000 - x will be the amount invested at 11% interest.
Step 2: Set up equations
The total income from both investments was $3200. We can set up the following equation to represent this:
0.09x + 0.11(32000 - x) = 3200
Step 3: Solve the equation
Now we can solve the equation to find the value of x, which represents the amount invested at 9% interest:
0.09x + 3520 - 0.11x = 3200
-0.02x = -320
x = -320 / -0.02
x = 16000
So, Mrs. Gleason invested $16,000 at 9% interest and $16,000 (32000 - 16000) at 11% interest.