1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kazeer [188]
3 years ago
13

Formulate a system of equations for the situation below and solve. Michael Perez deposited a total of $2000 with two savings ins

titutions. Bank A pays interest at the rate of 6%/year, whereas Bank B pays interest at the rate of 8%/year. If Michael earned a total of $144 in interest during a single year, how much did he deposit in each institution? Bank A $ Bank B $
Mathematics
2 answers:
olya-2409 [2.1K]3 years ago
6 0
<h2>Answer:</h2>

<em><u>Amount deposited in Bank A = $800</u></em>

<em><u>Amount deposited in Bank B = $1200</u></em>

<h2>Step-by-step explanation:</h2>

In the question,

Total amount deposited by Michael Perez in the Banks A and B = $2000

Interest rate of Bank A = 6% / year

Interest rate of Bank B = 8% / year

Also,

Total Interest earned by both the banks in a year = $144

Now,

Let us say the <u>amount deposited in Bank A</u> is = x

and,

<u>Amount deposited in Bank B</u> = (2000 - x)

So,

\frac{6}{100}x+\frac{8}{100}(2000-x)=144\\0.06x+0.08(2000)-0.08x=144\\-0.02x+160=144\\0.02x=16\\x=800

Therefore,

<em><u>Amount deposited in Bank A = $800</u></em>

and,

<em><u>Amount deposited in Bank B = $1200</u></em>

777dan777 [17]3 years ago
3 0

Answer:

DA= $800 and DB= $1200

Step-by-step explanation:

Equation I (Interest of Bank A):

IA= 0.06/year*DA  *1year (DA= Deposit in Bank A)

IA= 0.06*DA

Equation II (Interest of Bank B):

IB= 0.08/year*DB *1year  (DB= Deposit in Bank B)

IB= 0.08*DB

Total interest:

TI=IA+IB=$144

Total deposit:

TD= DA +DB= $2000

Adding equations I and II:

IA+IB = 0.06DA +0.08DB

$144= 0.06DA+0.08DB

(DB= $2000-DA)

When replacing DB:

$144= 0.06DA + 0.08($2000-DA)

Applying distributive property:

$144= 0.06DA + (0.08*$2000) -0.08DA

$144= -0.02DA + $160

0.02DA= $160-$144

0.02DA = $16

DA= $16/0.02

DA= $800

DB= $2000-$800

DB= $1200

You might be interested in
Solve: 7x-12&lt; 7( x-1)
Serggg [28]

Answer:

no solution

Step-by-step explanation:

7x-12<7x-7

-13<-7

no solution

6 0
3 years ago
A soccer team won 62% of their games. How many did they win if they payed 50 games?
Varvara68 [4.7K]

Answer:

31

Step-by-step explanation:

50 x .62= 31

(games played) x the percentage won.

You could muliply 50 by 62% if your calculator has the % symbol if not you have to turn it into a decimal. To go from percent to decimal just take your percentage and move the decimal to the left twice. 62% = .62

8 0
3 years ago
Tickets for the CTA train cost $0.75 for students and $3.25 for
Sonbull [250]
Missing the total payment information. Can not solve without total cost...
4 0
3 years ago
Write the point-slope equation of the line with the given properties. Solve the equation for y. M= -0.25, (12,7)
-Dominant- [34]

Answer:

y = -0.25x + 10

Step-by-step explanation:

Point-slope form is y - y1 = m (x - x1)

Here, y1 is 7, m is -0.25, and x1 is 12

When you plug these values in, you get y - 7 = -0.25 (x - 12)

Now we have to solve for y.

y - 7 = -0.25 (x - 12)

Distribute

y - 7 = -0.25x + 3

Add 7 to both sides

y = -0.25x + 10

3 0
3 years ago
Help pls
gogolik [260]

Answer:

I think the answer is 3x

Step-by-step explanation:

If i am wrong please correct me

4 0
2 years ago
Other questions:
  • Express the quantities below in a+bi form, and graph the corresponding points on the complex plane. If you use one set of axes,
    8·1 answer
  • Which equation has no solution?
    6·1 answer
  • What is the sum of the interior angles of the polygon shown below?
    12·1 answer
  • Complete the equation with numbers that makes the expression on the
    10·1 answer
  • You are buying paint to paint your bedroom walls. The cost of paint per gallon is $16.50 and you need 4.5 gallons to paint your
    15·1 answer
  • Which equation represents the graph<br><br>A. y=x-2<br><br>B.y=x+2<br><br>C.y=1/2x<br><br>D.y=2x​
    13·1 answer
  • What is the ratio 15 : 75 in lowest terms?<br><br> 1 : 5<br><br> 2 : 5<br><br> 1 : 4<br><br> 3 : 5
    12·2 answers
  • Need help for 12 please​
    14·1 answer
  • There are 135 people in a sport centre. 73 people use the gym. 59 people use the swimming pool. 31 people use the track. 19 peop
    10·1 answer
  • If the following ratios are proportional, what is the missing quantity? 10.2/3 ; 17/5; _____/11; 57.8/17
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!