Question

Translate the verbal statements into a system of linear equations: Fatima invested a total of $1000 in two simple-interest bank accounts. One account paid 5% annual interest; the other paid 6% annual interest. The total amount of interest she earned after 1 year was $56

Answer 1

Explanation:

Translate the verbal statements into a system of linear equations: Fatima invested a total of $1000 in two simple-interest bank accounts. One account paid 5% annual interest; the other paid 6% annual interest. The total amount of interest she earned after 1 year was $56

Simple interest formula =

I = PRT

We are to find the Amount = Principal invested

For Account 1

I1 = P × 5% × 1

= 0.05P

Account 2

I2 = P × 6% × 1

= 0.06P

Therefore:

0.05P + 0.06P = $56