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kaymarie
10-05-2008, 10:54 PM
Part of 13,750 is invested at 9% anual interest, and the rest is invested at 8%. After one year, the accounts paid 1,185 in interest. How much was invested at the lower rate?

I know I=prt, but i'm not sure how to plug these in.

Is it 1,185=(13,750)(.09)(x) then subtract that from 13,750???

And then this one:

To buy a house, a woman was required to make a down payment of \$11,400. What did the house sell for if this was 15% of the purchase price?

I thought that it was 11,400 x .15

But it says the answer is 76,000. I dont know how they got that.

Denis
10-05-2008, 11:59 PM
Part of 13,750 is invested at 9% anual interest, and the rest is invested at 8%. After one year, the accounts paid 1,185 in interest. How much was invested at the lower rate?
I know I=prt, but i'm not sure how to plug these in.
Is it 1,185=(13,750)(.09)(x) then subtract that from 13,750???

You seem quite lost: poor teacher?
Hint:
Let x = amount invested at 9%; then amount invested at 8% = 13750 - x : got that?
.09x + .08(13750 - x) = 1185 : solve for x

And then this one:
To buy a house, a woman was required to make a down payment of \$11,400. What did the house sell for if this was 15% of the purchase price?
I thought that it was 11,400 x .15
But it says the answer is 76,000. I dont know how they got that.
11400 * .15 = 1710 : can you find me a house for that price? I'll buy it QUICKLY!
Hint:
h = house price
.15h = 11400 : solve for h