An investor plans to invest $500 a year and expects to get a 10.5% return. If the investor makes these contributions at the end
1 answer:
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There are 47 dimes and 23 quarters.
Step-by-step explanation:
Total amount = $10.45 = 10.45*100 = 1045 cents
Total coins = 70
1 dime = 10 cents
1 quarter = 25 cents
Let,
Dimes = x
Quarters = y
According to given statement;
x+y=70 Eqn 1
10x+25y=1045 Eqn 2
Multiplying Eqn 1 by 10;
Subtracting Eqn 3 from Eqn 2
Dividing both sides by 15;
Putting y=23 in Eqn 1
There are 47 dimes and 23 quarters.
Keywords: linear equations, subtraction
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