Hey everyone,
I have to answer a story problem in my class and I just have no clue. I'm usually pretty good but I have no idea where to even start this problem, here it is:
Gloria is in luck! She received a letter explaining that she is to inherit a large amount of money. The money is currently in three different accounts in three different banks. She was told that there is approximately $30,000 total. Union Bank offers 3.2% interest on all savings accounts, MidAm Bank offers 4.1%, and BHM Bank offers 2.9% interest. Over the last year, the letter explained the accounts earned a total of $1,086 in interest over the last year. The MidAm account, being the oldest, holds $11,000 more than the BHM account.
The letter stated how much money was in each bank. Please find those amounts for Gloria.
Any help is appreciated, thanks
I have to answer a story problem in my class and I just have no clue. I'm usually pretty good but I have no idea where to even start this problem, here it is:
Gloria is in luck! She received a letter explaining that she is to inherit a large amount of money. The money is currently in three different accounts in three different banks. She was told that there is approximately $30,000 total. Union Bank offers 3.2% interest on all savings accounts, MidAm Bank offers 4.1%, and BHM Bank offers 2.9% interest. Over the last year, the letter explained the accounts earned a total of $1,086 in interest over the last year. The MidAm account, being the oldest, holds $11,000 more than the BHM account.
The letter stated how much money was in each bank. Please find those amounts for Gloria.
Any help is appreciated, thanks