MArta has $6000 to invest. She puts x dollars of this money into a savings account that earns 2% interest per year. With the rest, she buys a certificate of deposit that earns 4% per year.
i need 2 different equations.
[using a=prt and/or a=p(1+r/n)^nt]
I'm not sure what you are trying to do.
The two amounts can be x and $6000-x.
Does this help? I hope so. Thanks for asking.
6000
To find the amount of money that Marta earns from the savings account, you can use the formula for simple interest:
A = P(1 + rt)
Where:
A is the total amount after interest
P is the principal amount (the initial investment)
r is the rate of interest per year (as a decimal)
t is the time in years
In this case, Marta puts x dollars into the savings account. So, the equation for the savings account would be:
A1 = x(1 + 0.02t) -- Equation 1
To find the amount of money that Marta earns from the certificate of deposit, you can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A is the total amount after interest
P is the principal amount
r is the annual interest rate (as a decimal)
n is the number of times interest is compounded in a year
t is the time in years
In this case, Marta invests the remaining money into the certificate of deposit. Therefore, the principal amount for the certificate of deposit is (6000 - x). So, the equation for the certificate of deposit would be:
A2 = (6000 - x)(1 + 0.04/1)^(1t) -- Equation 2
These equations can help you calculate the total amount Marta earns from each investment based on the amount she puts into the savings account (x).