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This is a word problem involving simple interest: Pat invested $3000, part went into an acct that paid 10% simple annual interest, and another part went into an acct that paid 8% simple annual interest. If the total interest at the end of the year was $256, how much with the investment in each acct at the beginning of the year?
 one year ago
 one year ago
This is a word problem involving simple interest: Pat invested $3000, part went into an acct that paid 10% simple annual interest, and another part went into an acct that paid 8% simple annual interest. If the total interest at the end of the year was $256, how much with the investment in each acct at the beginning of the year?
 one year ago
 one year ago

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slaaibakBest ResponseYou've already chosen the best response.0
x(.08) + (3000  x)(1.1) = 256 Solve that.
 one year ago

GREcramBest ResponseYou've already chosen the best response.0
Does the 1.1 come from the 10% part?
 one year ago

slaaibakBest ResponseYou've already chosen the best response.0
Sorry I made a typo. It should be x(.08) + (3000  x)(0.1) = 256 where the .08 is from the 8% and the 0.1 is from the 10%
 one year ago

GREcramBest ResponseYou've already chosen the best response.0
I think I'm messing this up somehow... I ended up with X= 11,300. LOL I know that's not right
 one year ago

GREcramBest ResponseYou've already chosen the best response.0
@Limitless , can you help me?
 one year ago
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