A few days ago
algebra two equation?
jan invested 1200$ at a certain simple interest rate at 2200$ at a rate 3% higher. her annual earnings were 253$. Find two interest rates if she earns 121$ more on the larger investment than on the smaller.
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A few days ago
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Let x = the interest rate of the $1200 amount.
The interest earned for the first year is:
1200 * x% + 2200 * (x+3)% = 253
(1200 + 2200) * x% + 2200 * 3% = 253
3400 * x% + 66 = 253
3400 * x% = 187
x% = 187 / 3400
x% = 0.055
x = 5.5 (multiply both sides by 100), and x+3% = 8.5 %
To verify, check the math:
1200 * 5.5% = 66
2200 * 8.5% = 187
Total interest = 66 + 187 = 253
The difference between the two earnings is:
187 – 66 = 121
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