Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
hrcheerlove
Group Title
A man invests a certain amount of money at 2% interest and $800 more than that amount in another account at 4% interest. At the end of one year, he earned $92 in interest. How much money was invested in each account?
 one year ago
 one year ago
hrcheerlove Group Title
A man invests a certain amount of money at 2% interest and $800 more than that amount in another account at 4% interest. At the end of one year, he earned $92 in interest. How much money was invested in each account?
 one year ago
 one year ago

This Question is Closed

Minh_Minh Group TitleBest ResponseYou've already chosen the best response.0
high school math or calculus ? o_O
 one year ago

hrcheerlove Group TitleBest ResponseYou've already chosen the best response.0
Algebra 1 lol
 one year ago

jdawg911 Group TitleBest ResponseYou've already chosen the best response.0
02x+.04*2x=112 .02x+.08x=112 .10x=112 x=112/.10 x=$1,120 invested @ 2%. 2*1,120=$2,240 amount invested @ 4%. Proof: .02*1,120+.04*2,240=112 22.4+89.6=112 112=112
 one year ago

Minh_Minh Group TitleBest ResponseYou've already chosen the best response.0
cool 'cuz every1 hates compound interest problem lmao
 one year ago

Minh_Minh Group TitleBest ResponseYou've already chosen the best response.0
Let interest earned of 1st acc be I(1)=P(1)*R(1)*T Let interest earned of 2nd acc be I(2)=P(2)*R(2)*T where P(1)=x , P(2)=x+800 , R(1)=0.02, R(2)=0.04 I(1)+I(2)=92 0.02x+0.04(x+800)= 92 0.02x+0.04x+32=92 0.06x=60 x=1000=P(1)=amount invested in 1st acc P(2)=x+800=1000+800=1800 = amount invested in 2nd acc
 one year ago
See more questions >>>
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
 Engagement 19 Mad Hatter
 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.