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so if the total increase of the initial investment (from both companies? or just from this one) is 6.2%; then ....
so 6.2 =....
am i right so far?
x + y = 13750 x(6.4%) + y(3.9%) = 13750(6.2%) we good with this so far?
yea and i can take it from there
i can just use the elimination method right?
id rename it SLW and STDY just to be on the safe side :)
elimination is when you canel out one variable...it might be an option; but usually I just solve for one of the top variables and sustitute it into the bottom one.
that would be easier :)
x + y = 13750 y = 13750 - x --------------------------- x(.064) + y(.039) = 13750(.062) x(.064) + (13750 - x)(.039) = 13750(.062)
solve for "x" and then back it up for "y"
right. i will tell you what i get, one minute
i got 1.59 for x now about to plug back in for y
i think i did something wrong thats REALLY small
ok....ill double check your work :)
x = 12650
i multiplied everything
and got .064x + 536.25x = 852.5
solved for x and got 1.59 (rounded) but that doesnt work when i solve for y
x(.064) + (13750 - x)(.039) = 13750(.062) .064x -.039x + 536.25 = 852.50 .025x = 316.25 x = 316.25/.025 x = 12650
OHH i didn't distribute the .039 properly
can you just clarify for me and show me kinda step by step how you set up the two equations? based off of the word problem?
I can..if your still around
There are 2 companies that you invest a certain number of dollars in: one company get s "x" amount of dollars and the other gets "y" amount of dollars. the amount invested into both companies has to equal 13750. x + y = 13750
We know that each company has a different interest rate that they pay so we set this up accordingly we know that x amount of dollars gets us 6.4% and y amount of dollars gets us 3.9%. We are also told that the total amount of interest earned from all the monies invested was 6.2%.
interest earned is a simple calcultion; it is amount of money times interest rate. plain and simple. x(6.4%) + y(3.9%) = 13750(6.2%) right?
yes, ok i get it i just wanted to reinforce it