LailuhBella
New member
- Joined
- Oct 11, 2008
- Messages
- 4
I've been trying to solve this problem for the past hour and I can't figure it out!!!! Its driving me insane.
Wendy invested $10000, part at 4% and part at 5% simple intrest for a period of 1 year. How much was invested in each account if the interest earned in the 5% account was $320 greater than the interest earned in the 4% account?
I know that you set up a table to solve it.. but I can't figure out the equation! Thanks.
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Okay I have the table like this:
1) .04 x .04x
2) .05 10000-x .05(10000-x)
Then the equation I think you would use is:
.04x+500-.05x=320+x
I just cannot reach the answer algebraicly.. :/ Thanks again.
And I think I used the PRT=I formula..
Principle=10000-x and x
Rate=.04 and .05
Time=1
and the Intrest I think should be 320+x
Wendy invested $10000, part at 4% and part at 5% simple intrest for a period of 1 year. How much was invested in each account if the interest earned in the 5% account was $320 greater than the interest earned in the 4% account?
I know that you set up a table to solve it.. but I can't figure out the equation! Thanks.
...........................................................................................................................................
Okay I have the table like this:
1) .04 x .04x
2) .05 10000-x .05(10000-x)
Then the equation I think you would use is:
.04x+500-.05x=320+x
I just cannot reach the answer algebraicly.. :/ Thanks again.
And I think I used the PRT=I formula..
Principle=10000-x and x
Rate=.04 and .05
Time=1
and the Intrest I think should be 320+x