Acc. Algebra 2

Jan invested $1200 at a certain simple interest rate and $2200 at 3%higher. Her annual earnings were $253. Find the two interests rate if she earned $121 more on the larger investment than on the smaller.

  1. ๐Ÿ‘ 0
  2. ๐Ÿ‘Ž 0
  3. ๐Ÿ‘ 22
asked by Lisa
  1. smaller rate --- x
    larger rate ----- x + .03

    1200x + 2200(x+.03) = 253
    1200x + 2200x + 66 = 253
    3400x = 187
    x = .055
    lower rate is 5.5% higher rate is 8.5%

    check:
    return on 1200 = .055(1200) = 66
    return on 2200 = .085(2200) = 187
    which is $121 more

    You actually had more information than was needed to solve the problem

    1. ๐Ÿ‘ 0
    2. ๐Ÿ‘Ž 0
    posted by Reiny
  2. Yeah I realized that!!! Thank you very much!!!

    1. ๐Ÿ‘ 0
    2. ๐Ÿ‘Ž 0
    posted by Lisa

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    An investment of $3,000 is made at an annual simple interest of 5%. How much additional money must be invested at an annual simple interest rate of 8%, so that the total annual interest earned is 7.5 of the original amount that

    asked by PleaseCheckMyAnswer on March 31, 2016
  2. Math

    An investment of $3,000 is made at an annual simple interest of 5%. How much additional monery must be invested at an annual simple interest rate of 8% so that the total annual interest earned is 7.5 of te original amount that you

    asked by Anonymous on March 30, 2016
  3. Math

    An investment advisor invested a total of $12,000, part at 2.5% annual simple interest and part at 4% annual simple interest. The amount of interest earned for 1 year was $426. How much was invested at the 2.5% rate and how much

    asked by Alicia on June 23, 2009
  4. Math

    Larry Mitchell invested part of his $27,000 advance at 5% annual simple interest and the rest at 2% annual simple interest. If his total yearly interest from both accounts was $720รขโ‚ฌโ€น, find the amount invested at each rate

    asked by Jimmy on November 8, 2017
  5. Math

    Find the interest if $ 9,000 is invested at an annual simple interest rate of 8 % for 3 years. Use the formula I = P ร— R ร— T , where I is the interest earnings, P is the principal, R is the annual rate and T is the time,

    asked by Adam on September 15, 2011
  6. Math

    Larry has an annual return of $213.00 from $3000.00 invested at simple interest. One at 5% and the other at 8%. How much is invested at each rate. (Hint, Interest earned = amount invested x rate of interest.)

    asked by Lyn on September 10, 2012
  7. simple interest

    A total of $12,000 is invested into two simple interest accounts. On one account the annual simple interest rate is 12%, while on the second account the annual interest rate is 18%. How much should be invested at 12% so that the

    asked by ali on March 31, 2016
  8. algebra

    A total of $6200 is deposited into two simple interest accounts. On one account the annual simple interest rate is 2%, and on the second account the annual simple interest rate is 4%. The amount of interest earned for 1 year was

    asked by Emmett on July 28, 2012
  9. algebra

    Larry Mitchel invested part of his $32,000 advance at 7% annual simple interest and the rest at 6% annual simple interest. If this total yearly interest from both accounts was $2,050, find the amount invested at each. The amount

    asked by lisa on August 27, 2014
  10. Math

    melissa invested a some of money at 3% annual simple inter she invested 3 times that some at 5 % annual simple interest if her total yearly interest from both investments was 7200 how much was invested at 3% ?

    asked by Joel on March 30, 2011

More Similar Questions