A community for students.
Here's the question you clicked on:
 0 viewing
thehumantorch10
 one year ago
WILL GIVE MEDAL for EXPLANATION AND ANSWER!!!!!!
One thousand five hundred dollars is invested in two different accounts paying 4% and 5% interest. A total of $67 interest is earned after one year.
How much money was invested at 4%?
a. $700
b. $800
c. $900
thehumantorch10
 one year ago
WILL GIVE MEDAL for EXPLANATION AND ANSWER!!!!!! One thousand five hundred dollars is invested in two different accounts paying 4% and 5% interest. A total of $67 interest is earned after one year. How much money was invested at 4%? a. $700 b. $800 c. $900

This Question is Closed

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Is the 4% and 5% interest anually ?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Or monthly/daily/hourly and so forth ?

thehumantorch10
 one year ago
Best ResponseYou've already chosen the best response.0annually i think. it doeesnt specify

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Alright. The idea here is pretty simple. Consider this:suppose the first sum was X and the second sum was Y. dw:1437351988132:dw

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0The total sum deposited being 1500$ simply means that X+Y=1500.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0The interest earned for each sum is simply: dw:1437352107232:dw

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Mathematically we can write that as: 4X/100 + 5Y/100 = 67 (which is the total interest earned that year)

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0And now we simply have to solve two equations with two unknown variables. X+Y=1500 4X/100 + 5Y/100 = 67 We multiply the second equation with 100: X+Y=1500 4X+5Y=6700 We multiply the first equation with 5: 5X+5Y=7500 4X+5Y=6700 We subtract the second equation from the first equation: X=800 Which is the answe you are looking for.

thehumantorch10
 one year ago
Best ResponseYou've already chosen the best response.0thank you for the help!!!
Ask your own question
Sign UpFind more explanations on OpenStudy
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.