Results 1 to 3 of 3

Math Help - 2 Word Problems, Alg 2, Please Help( Reply by 10am plz)

  1. #1
    Newbie
    Joined
    Jun 2008
    Posts
    1

    Red face 2 Word Problems, Alg 2, Please Help( Reply by 10pm plz)

    1) Ashley won $5000 in a contest. She invested some of the money at 5% simple interest and $400 less than twice that amount at 6.5%. In one year, she earned $298 in interest. How much did she invest at each rate?
    Formula = use table with Principle, Rate and Interest.

    Problem : Please assist with setting up the problem. I've tried but failed to solve it.
    The Answer in the book should be =$1800 at 5%; %3200 at 6.5%

    2) Vincente and Ricarda have invested $27,000 in bonds paying 7%. How much additional money should they invest in a certificate of deposit paying 4% simple interest so that the total return on the two investment will be 6%?
    Formula = the same.
    Problem : the same.
    Answer : $13,500
    Last edited by chamroeneng; June 16th 2008 at 07:10 PM. Reason: error
    Follow Math Help Forum on Facebook and Google+

  2. #2
    is up to his old tricks again! Jhevon's Avatar
    Joined
    Feb 2007
    From
    New York, USA
    Posts
    11,663
    Thanks
    3
    Quote Originally Posted by chamroeneng View Post
    1) Ashley won $5000 in a contest. She invested some of the money at 5% simple interest and $400 less than twice that amount at 6.5%. In one year, she earned $298 in interest. How much did she invest at each rate?
    Formula = use table with Principle, Rate and Interest.

    Problem : Please assist with setting up the problem. I've tried but failed to solve it.
    The Answer in the book should be =$1800 at 5%; %3200 at 6.5%
    Let x be the amount invested at 5% interest. Then the other amount invested is (2x - 400)

    the interest gained at 5% is 0.05x using the simple interest formula.

    similarly, the interest gained at 6.5% is 0.065(2x - 400)

    the total interest gained is 298. thus:

    0.05x + 0.065(2x - 400) = 298

    solve for x and you can complete the problem
    Follow Math Help Forum on Facebook and Google+

  3. #3
    is up to his old tricks again! Jhevon's Avatar
    Joined
    Feb 2007
    From
    New York, USA
    Posts
    11,663
    Thanks
    3
    Quote Originally Posted by chamroeneng View Post
    2) Vincente and Ricarda have invested $27,000 in bonds paying 7%. How much additional money should they invest in a certificate of deposit paying 4% simple interest so that the total return on the two investment will be 6%?
    Formula = the same.
    Problem : the same.
    Answer : $13,500
    Let x be the additional amount invested at 4%

    So in total, we invested (27000 + x).

    now, the interest gained by the 27000 is 0.07*27000

    the interest gained by x is 0.04x

    we want the return to be 6% of the total amount invested. meaning, we want the interest to be 0.06(27000 + x). thus:

    0.07*27000 + 0.04x = 0.06(27000 + x)

    now solve for x and that's your answer
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Probability of receiving a reply
    Posted in the Statistics Forum
    Replies: 3
    Last Post: February 3rd 2010, 03:15 AM
  2. Please reply my exam is tomorrow!!!!!!!!!
    Posted in the Algebra Forum
    Replies: 8
    Last Post: May 17th 2009, 11:27 AM

Search Tags


/mathhelpforum @mathhelpforum