SOLUTION: I've been trying to solve this question for about two hours. I just can't seem to get the starting equation right.
Jan has $2000 more invested in a stock that pays 9% interest
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Question 143048This question is from textbook
: I've been trying to solve this question for about two hours. I just can't seem to get the starting equation right.
Jan has $2000 more invested in a stock that pays 9% interest than in a savings account paying 8%. If her total interest for 1 year is $860, how much does she have invested at each rate?
This question is from textbook
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
let x=savings account, so x+200=stock
(x+2000)(9%)+(x)(8%)=860 __ multiplying by 100 to clear percentages __ 9x+18000+8x=86000
17x=68000 __ x=4000
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