A few days ago
Algebra 2 word problem..?
Jan invested $1200 at a certain simple interest rate and $2200 at a rate 3% higher. Her annual earnings were $253. Find the two interest rates if she earned $121 more on the larger investment than on the smaller.
Top 2 Answers
A few days ago
Favorite Answer
Principle = 1200
Rate = x
Interest = 1200x
Principle = 2200
Rate = x + 0.03
Interest = 2200(x + 0.03)
1200x + 2200(x + .03) = 253
1200x + 2200x + 66 = 253
3400x + 66 = 253
3400x = 187
x = .055
The first rate:
5.5%
The second rate:
8.5%
0
A few days ago
x=interest rate on 1200
1200x+2200(x+.03)=253
1200x-2200x+66=253
3400x=187
x=0.055 or 5.5%
1200(.055)+2200(.085)=253
66+187=253
187-66=121
Int rates are 5.5% and 8.5%
0
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