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Need help with this question. I also need tips for questions like this. I really don't understand and I'm very confused.

Need help with this question. I also need tips for questions like this. I really don-example-1
User Ezpresso
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1 Answer

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Step-by-step explanation

Assuming that we have two accounts paying 14% and 7% respectively

Assuming that x represents the amount invested in one account earning 14%

Then, 12,000 - x = y amount invested in the other account.

Changing percent to decimal 9%---> 0.09 and 7% --> 0.07

(1) y= 12,000 - x

The second relationship would be as follows:

(2) 0.14x + 0.07y = 1,435

*We are assuming that the sum of both amount of interest earned should be equal to $1,435.

Plugging in (1) in (2):


0.14x\text{ + 0.07(12,000-x)}=1435

Applying the distributive property:


0.14x+840-0.07x=1435

Subtracting -840 to both sides:


0.14x\text{ -0.07x=1435-8}40

Subtracting numbers:


0.07x=595

Dividing both sides by 0.07:


x=(595)/(0.07)

Simplifying:


x=8,500

Now, the amount invested in the other account would be y=12,000 - 8,500 = 3,500

In conclusion, the amount invested in each account is as follows:

Should invest $8,500 at 14% and $3,500 at 7%

User Pushpraj
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