Mr. and Mrs. Bailey need to invest $2906.50 so as to send their son to college.
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Compound interest</h3>
Compound interest is given by:
where A is the amount after t years, P is initial amount, r is the rate and n is the times compounded per period
Given that n = 1, r = 9% = 0.09, A = $7500 t = 11. Hence:
Mr. and Mrs. Bailey need to invest $2906.50 so as to send their son to college.
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So I think you should set up an equation like this: 14.95x+16.88y=131.18 , x+y=8
so x=8-y, plug this into the original equation:
14.95(8-y)+16.88y=131.18
Evaluate: 119.60-14.95y+16.88y=131.18
Combine like terms: 119.60+1.93y=131.18
Subtract 119.60 from both sides. You get: 1.93y=11.58
Divide both sides by 1.93. You get y=6
Plug into second equation: x+y=8 ---> x+6=8 and solve for x. x=2
Christine bought 2 video games and 6 CDs. 14.95(2)+16.88(6)=131.18
Answer:
the equation is corrent if that what your asking
Step-by-step explanation:
