A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

anonymous

  • 5 years ago

can someone give me a formula for this please? A college student earned $8400 during summer vacation working as a waiter in a popular restaurant. Part was invested at 8% simple interest and the remainder at 9% simple interest. At the end of one year, the student had earned $707 interest. How much was invested at 9%

  • This Question is Closed
  1. Owlfred
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Hoot! You just asked your first question! Hang tight while I find people to answer it for you. You can thank people who give you good answers by clicking the 'Good Answer' button on the right!

  2. anonymous
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    707=0.08(8400 +0.09(8400)

  3. anonymous
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    not possible

  4. amistre64
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    the formula(s) would be: a + b = 8400; a = 8400-b 707 = a(.08) + b(.09) ; substitue the 'value' of a into this equation and solve for 'b'

  5. anonymous
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    oops yes it is sorry. call the amount invested at 9% x. then \.09x+.08(8400-x)=707\]

  6. anonymous
    • 5 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    \[.09x+.08(8400-x)=707\] \[.01x+672=707\] \[.01x=35\] \[x=\frac{35}{.01}=3500\]

  7. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.