SOLUTION: You decide to invest some money in two different money markets. One account (a) pays 3% interest. The other account pays 2% but offers $20 bonus.write an expression for each accoun
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Question 1014256: You decide to invest some money in two different money markets. One account (a) pays 3% interest. The other account pays 2% but offers $20 bonus.write an expression for each account to determine interest and bonus you woul earn in two years. Use y to represent interest and bonus and x to represent the principle invested
Y=x(.03)(2)=6
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
You decide to invest some money in two different money markets.
One account (a) pays 3% interest.
I(2) = P*0.03*2 = 0.06P
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The other account pays 2% but offers $20 bonus.
I(2) = 20 + P(0.02)*2 = 20 + 0.04P
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Write an expression for each account to determine interest and bonus you would earn in two years.
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Cheers,
Stan H.
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