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GREcram

  • 3 years 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?

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  1. slaaibak
    • 3 years ago
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    x(.08) + (3000 - x)(1.1) = 256 Solve that.

  2. GREcram
    • 3 years ago
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    Does the 1.1 come from the 10% part?

  3. slaaibak
    • 3 years ago
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    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%

  4. GREcram
    • 3 years ago
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    I think I'm messing this up somehow... I ended up with X= -11,300. LOL I know that's not right

  5. GREcram
    • 3 years ago
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    @Limitless , can you help me?

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