SOLUTION: I have a final exam tomorrow and these are two problems I am having a problem with on my review. If someone could show me how to do them it would be much appreciated.
-Problem 1
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-Problem 1
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Question 865292: I have a final exam tomorrow and these are two problems I am having a problem with on my review. If someone could show me how to do them it would be much appreciated.
-Problem 1-
You inherit $2500 with the stipulation that for the first year the money must be involved into two stocks paying 10% and 6% annual interest, respectively. How much should be invested at the 6% rate if the total interest earned for the year is to be $221.92?
-Problem 2-
After an 8% increase in salary, Laurie makes 1016.50 per month. How much did she earn per month before the increase?
Any help would really be great thank you.
You can put this solution on YOUR website! first problem
.06x+.10y=221.92,
x+y=2500
x=702., y=798.
second problem
1.08x=1016.50
x = 941.204 before the raise
You can put this solution on YOUR website! Part I 6.00% per annum ------------- Amount invested =x
Part II 10.00% per annum ------------ Amount invested = y
2500
Interest----- 221.92
Part I 6.00% per annum ---x
Part II 10.00% per annum ---y
Total investment
x + 1 y= 2500 -------------1
Interest on both investments
6.00% x + 10.00% y= 221.92
Multiply by 100
6 x + 10 y= 22192.00 --------2
Multiply (1) by -6
we get
-6 x -6 y= -15000.00
Add this to (2)
0 x 4 y= 7192
divide by 4
y = 1798
Part I 6.00% $ 702
Part II 10.00% $ 1798
