A few days ago
Kei Kehi

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
Anonymous

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%

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A few days ago
Grandmaster_D
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%

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