SOLUTION: Please help me solve
Monico invests a total of $13,000 in two accounts. The first account earned a rate of return of 15% (after a year). However, the second account suffered a 1
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Question 686855: Please help me solve
Monico invests a total of $13,000 in two accounts. The first account earned a rate of return of 15% (after a year). However, the second account suffered a 13% loss in the same time period. At the end of one year, the total amount of money gained was $550.00. How much was invested into each account?
$________ was invested at 15% and
$________ was invested at -13%.
Answer by KMST(5328) (Show Source): You can put this solution on YOUR website!
$8000 was invested at 15% and
$5000 was invested at -13%.
The way to solve it depends on what you are studying
IF YOU ARE STUDYING SYSTEMS OF LINEAR EQUATIONS:
= amount (in $) invested at 15%
= amount (in $) invested at -13%
The first account earned $ (15% of $)
The second account "earned" a negative amount (lost 13%),
so the "earnings" from the second account (in $) were .
The total earnings (in $) were
Putting both equations together, you get the system of equations
There are many ways to solve such a system,
but the most intuitive way would be by substitution.
You could solve the first equation for :
--> ,
and then substitute the expression for in the second equation.
--> --> --> --> --> --> -->
Then substitute for in to get
-->
IF YOU HAVE NOT STUDIED SYSTEMS OF EQUATIONS:
= amount (in $) invested at 15%
amount (in $) invested at -13% =
The first account earned $ (15% of $)
The second account "earned" a negative amount (lost 13%),
so the "earnings" from the second account (in $) were .
The total earnings (in $) were
Now you simplify and solve for
--> --> --> --> --> --> -->
Then,
amount (in $) invested at -13% =
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