Okay, this word problem has 4 different solutions. I found the first two, but I cannot figure out how to find the last two solutions. Here is the info:
Bob has investments totaling $11,000 in two accounts. One account is a savings account paying 6% interest and the other is a bond paying 9%. If the annual interest from the two investments was $855:
(and the questions)
1. How much did he have invested at the 6% rate?
A = $4500
2. How much did he have invested at the 9% rate?
A = $6500
3. How much interest did the 6% account earn?
A = ?
4. How much interest did the 9% account earn?
A = ?
Here is my work:
x = 6% investment & y = 9% investment
x + y = 11000
(subtract x from both sides)
y = 11000 - x
.06x + .09y = 855
.06x + .09(11000 - x) = 855
.06x + 990 - .09x = 855
-.03x + 990 = 855
- 990 -990
-.03x = -135
(divide both sides by -.03)
x = 4500
Please help me with the other two! Thanks in advance. ^.~
2006-12-17
15:39:02
·
3 answers
·
asked by
glitteringfairywings
2
in
Education & Reference
➔ Homework Help
This is just Algebra, pure and simple. This question is theoretical... I didn't finish the "job" because I don't know how to.... That is why I'm posting on here in the first place. I do not know how to find the answers for 3 & 4. If anyone else can help out, please do! Thanks again :)
2006-12-17
15:55:54 ·
update #1
Thank you David, for giving me an answer I can actually work with ^.~
2006-12-17
16:16:29 ·
update #2