SOLUTION: Mr. Simon invests a total of $7003 in two savings accounts. One account yields 7.5% simple interest and the other 8.5% simple interest. He would like to find the amount placed in
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Question 42159: Mr. Simon invests a total of $7003 in two savings accounts. One account yields 7.5% simple interest and the other 8.5% simple interest. He would like to find the amount placed in each account if a total of $582.33 in interest is received after one year. Write a system of linear equations to express this problem.Please explain thanks.
I really need help with word problems.
thanks Answer by Nate(3500) (Show Source):
You can put this solution on YOUR website! An amount of money will be invested in 7.5% and the rest, will be invested is 8.5% .... where equals total amount of interest and Interest=Principle*Rate*Time
You can not place a negative amount of cash in an account, so there is no way.
The linear Equations:
and
(