Thread: Two algebra word probelms...VERY URGENT!!

1. Two algebra word probelms...VERY URGENT!!

I need help in these two algebra word problems!! ITS URGENT..thank u

1) In five year's time, Jamie will be three times as old as he was last year. How old is Jamie now?

2) Last year you inherited \$24,000 and decided to invest some of it in a low risk mutual fund, and the rest in a high risk fund. During the year, the low risk fund earned 6%, while the high risk fund lost 3%. If your total investment is now worth \$24,900, how much money did you invest in each fund?

2. Originally Posted by lemontea
I need help in these two algebra word problems!! ITS URGENT..thank u

1) In five year's time, Jamie will be three times as old as he was last year. How old is Jamie now?
Let $x$ be Jamie's current age. in five years time, he will be $x + 5$. last year, he was $x - 1$ years old.

thus we have $x + 5 = 3(x - 1)$

now solve for $x$

Originally Posted by lemontea
2) Last year you inherited \$24,000 and decided to invest some of it in a low risk mutual fund, and the rest in a high risk fund. During the year, the low risk fund earned 6%, while the high risk fund lost 3%. If your total investment is now worth \$24,900, how much money did you invest in each fund?
when it's all said and done, you gained \$900. this gain is the net increase from a 6% increase in the money you invested in the low risk account + a 3% decrease in the money you invested in the high risk account.

Let $x$ be what you invested in the low risk account out of the \$24000

Then $24000 - x$ is the amount you invested in the high risk account.

you gained 6% from the low risk, which is $0.06x$
you lost 3% from the high risk, which amounts to $-0.03(24000 - x)$

all in all, you gained \$900. thus,

$0.06x - 0.03(24000 - x) = 900$

now solve for $x$