Answer:
(a)
system of equations are
(b)
Graph is attached
(c)
Sam earned =$200
Kevin earned =$225
Step-by-step explanation:
Let's assume
's' for the amount Sam earned
'k' for the amount Kevin earned
(a)
Together they earned a total of $425
so, we get
Kevin earned $25 more than Sam
so, we get
so, system of equations are
(b)
now, we can draw graph
(c)
intersection point will be our solution
and we got intersection point as
(200, 225)
so,
s=200
k=225
Answer:
She needs to invest $13,636.36 right now
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
In this question:
In 15 years, so
She wants to have $30,000, so
8% interest, so
We have to find P.
Replacing:
She needs to invest $13,636.36 right now