Helene invested a total of $1000 in two simple-interest bank accounts. One account paid 5% annual interest; the other paid 7% an nual interest. The total amount of interest she earned after 1 year was $60. Find the amount invested in each account.
1 answer:
x + y = 1000, (1) 0.05x + 0.06y = 58. (2) From (1), express y = 1000-x and then substitute it into (2) 0.05x + 0.06*(1000-x) = 58 0.05x + 60 - 0.06x = 58 -0.01x = 58 - 60 = -2 ====> x = %28-2%29%2F%28-0.01%29 = 200%2F1 = 200. Answer. $200 was invested at 5%. The rest $1000 - $200 = $800 was invested at 6%. Check. 200*0.05 + 800*0.06 = 58. ! Correct ! Solved. // I used the Substitution method to solve the system of 2 equations in 2 unknowns.
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The original price is c. Then the grocery bill will be: c - 0.05c = 0.95 c. You can also say since the beggining that 5% disscount implies 0.95 factor, which leads to c * 0.95 = 0.95c. Sorry if it’s wrong