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Math Help - Two algebra word probelms...VERY URGENT!!

  1. #1
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    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?
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    is up to his old tricks again! Jhevon's Avatar
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    Quote Originally Posted by lemontea View Post
    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

    Quote Originally Posted by lemontea View Post
    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
    Last edited by ThePerfectHacker; November 11th 2007 at 07:56 PM.
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