SOLUTION: Mr. Jarvis invests a total of $12,644 in two savings accounts. One account yields 8.5% simple interest and the other 10% simple interest. He would like to find the amount placed in
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Mr. Jarvis invests a total of $12,644 in two savings accounts. One account yields 8.5% simple interest and the other 10% simple interest. He would like to find the amount placed in
Log On
Question 1003670: Mr. Jarvis invests a total of $12,644 in two savings accounts. One account yields 8.5% simple interest and the other 10% simple interest. He would like to find the amount placed in each account if a total of $1139.38 in interest is received after one year.
What system of linear equations represent this equation?
You can put this solution on YOUR website! Mr. Jarvis invests a total of $12,644 in two savings accounts. One account yields 8.5% simple interest and the other 10% simple interest. He would like to find the amount placed in each account if a total of $1139.38 in interest is received after one year.
What system of linear equations represent this equation?
-----
Quantity:: a + b = 12644 dollars
Interest::0.085a + 0.10b = 1139.38
--------------------------------------
Modify for elimination::
100a + 100b = 1264400
85a + 100b = 1139380
------
Subtract and solve for "a":
15a = 124420
------
a = $8294.67 (amt. invested at 8.5%
b = $4349.33 (amt. invested at 10%
---------
Cheers,
Stan H.
-------------
(