SOLUTION: A team of cancer research specialists received a grant of 300,000 to be used for cancer research. They deposited some of the money in a 10% simple internet account and the remainde
Algebra.Com
Question 900317: A team of cancer research specialists received a grant of 300,000 to be used for cancer research. They deposited some of the money in a 10% simple internet account and the remainder in an 8.5% annual simple interest account. How much was deposited in each account if the annual interest is 28,500 ?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
x+y=300000,
0.1*x+0.085*y=28500
x=300000-y
0.1*(300000-y)+0.085*y=28500
30000-0.1y+0.085*y=28500
-0.015*y=-1500
y=100000
x=300000-y
x=200000
check
0.1*200000+0.085*100000=28500
20000+8500.0=28500
28500.0=28500
ok
RELATED QUESTIONS
A team of cancer research specialists received a grant of $300,000 to be used for cancer... (answered by checkley71)
Because of limited funds, 5 research centers are chosen out of 8 suitable ones for a... (answered by ewatrrr)
A method currently used by doctors to screen women for breast cancer fails to detect... (answered by stanbon)
In the general population, one woman in ten will develop breast cancer. Research has... (answered by Boreal)
Sandra is participating in a cycle-a-thon to raise money for cancer research. The course... (answered by solver91311)
heavy drinking and smoking have been demonstrated to be great risk factors for throat... (answered by rfer)
A method currently used by doctors to screen women for breast cancer fails to detect... (answered by stanbon)
A test to detect cancer is not always reliable. It gives a positive result 95 % of the... (answered by Boreal,ikleyn)
I need help setting up this question. Thank you for your time
The number of living... (answered by MathLover1)