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Algebra 1

jay1014

New member
Joined
Dec 13, 2009
Messages
1
I need a simpler way to solve this problem with an equation...Mrs. Jones invested $10,000, some in each of two separate accounts. One pays 5% interest and the other 6%. If her combined annual interest is $575, how much does she have invested in each account?......off the top of my head, I solved it by first 10000/2=5000, then I 5000/2 =2500
I then 2500*.05=125, I then 7500*.06=450....Both answers equal the total interest of $575.00
$2500 was invested at 5%, and $7500 was invested at 6%.....How would I put this in an equation form...thank u
 

wjm11

Senior Member
Joined
Nov 13, 2004
Messages
1,417
I need a simpler way to solve this problem with an equation...Mrs. Jones invested $10,000, some in each of two separate accounts. One pays 5% interest and the other 6%. If her combined annual interest is $575, how much does she have invested in each account?......off the top of my head, I solved it by first 10000/2=5000, then I 5000/2 =2500
I then 2500*.05=125, I then 7500*.06=450....Both answers equal the total interest of $575.00
$2500 was invested at 5%, and $7500 was invested at 6%.....How would I put this in an equation form
You have arrived at the correct answer by using a “guess and check” method. In algebra, we hope to use methods that do not involve guessing.

Start by defining some variables:

x – the amount of money invested at 5%
y – the amount of money invested at 6%

Now we write some equations using things we know are true:

x + y = 10000
(.05)x + (.06)y = 575

The first equation is about how much money we started with, and the second one is about the interest we earned. Make sense?

Anyway, now you have two equations and two unknowns. Just solve, probably by using the “substitution” method. Can you do that?
 
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