document.write( "Question 246376: Please help me solve this word problem: A bank pays 2% intrest. The credit union pays 3% per year. Bo saves $1000 total and gets $5 more intrest from the bank than from the credit union. How much was saved in each account?\r
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document.write( "I was able to come up with x + y= 1000 but nothing after that. \n" );
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Algebra.Com's Answer #179965 by ankor@dixie-net.com(22740)![]() ![]() You can put this solution on YOUR website! A bank pays 2% interest. The credit union pays 3% per year. \n" ); document.write( " Bo saves $1000 total and gets $5 more interest from the bank than from the credit union. \n" ); document.write( "How much was saved in each account? \n" ); document.write( "I was able to come up with x + y= 1000 but nothing after that. \n" ); document.write( ": \n" ); document.write( "That's one equation, here is the interest equation \n" ); document.write( "Bank int - credit u int = $5 \n" ); document.write( ".02x - .03y = 5 \n" ); document.write( ": \n" ); document.write( "From the 1st equation: \n" ); document.write( "x + y = 1000 \n" ); document.write( "x = (1000-y) \n" ); document.write( ": \n" ); document.write( "substitute for x in the interest equation \n" ); document.write( ".02(1000-y) - .03y = 5 \n" ); document.write( "20 - .02y - .03y = 5 \n" ); document.write( ": \n" ); document.write( "-.02y - .03y = 5 - 20 \n" ); document.write( "-.05y = -15 \n" ); document.write( "y = \n" ); document.write( "y = + 300 saved at the credit union, (3%) \n" ); document.write( ": \n" ); document.write( "You should be able to find the bank amt now \n" ); document.write( "Check solution by finding the interest amt for each \n" ); document.write( " |