homework help algebra 2?

Question

13: Jason wants to have simple interest income of $4,611 per year. If he found a bank that pays 8.7% simple interest per year, how much money will Jason need to deposit to meet his interest goal?


$12,300.00
$53,000.00
$24,060.00


14: Abigail has a credit card from Arctic Bank and another from Bagel Bank. She charged $130 more on the Arctic Bank card than on the Bagel Bank card. Arctic Bank charges 11% simple interest per year and Bagel Bank charges 18% per year. The yearly interest charge Abigail needs to pay is $226. How much money does Abigail owe Arctic Bank before interest charges in one year?
the total interest.





$860.00
$730.00
$560.00


15: Shelby had $6,200. She invested her savings in two mutual funds for one year. One fund is paying 5% simple interest and the other 8%. How much money did Shelby invest at 5% if the total annual interest is $421?

Answer 1

Q14:
*show work*

Bagel total (18% rate) = x
Arctic total (11% rate) = x + 130
Total interest charge = 226.00

226.00 = 11% of (x + 130) + 18% of x
= 0.11 (x + 130) + 0.18x
= 0.11x + 14.30 + 0.18x
= 0.29x + 14.30

226.00 -14.30 = 0.29x + 14.30 - 14.30

211.70 = 0.29x

730 = x

Arctic balance = x + 130 = 860.00



Q15:
*show work*

Total invested 6200.00
Fund A at 8% for x dollars
Fund B at 5% for (6200 - x) dollars
Total interest earned 421.00

421.00 = 8% of x + 5% of (6200 - x)
= 0.08x + (310 - 0.05x)
= 310 + 0.08x - 0.05x
= 310 + 0.03x

421 - 310 = 310 - 310 + 0.03x

111 = 0.03x

111 / 0.03 = x

x = 3700

Fund B invested 6200 - x dollares = 6200 - 3700
= $2500

Answer 2

For 13th Question it is (4611x100)/8.7 = 5300