I have another math question...?

Question

"Kevin has $8,000 invested between 2 accounts. Account X pays 4% annual interest and Account Y pays 6% annual interest. At the end of the year, Kevin has $8,460 between the accounts. How much money was originally invested in each account?"

I need to solve this using the four step process...

1. Define a variable.
2. Write an equation.
3. Solve this equation (step by step).
4. Answer the original question asked.

If anybody could help me with this and explain it step by step... I would appreciate it SOO much!!!

Thanks in advance to anybody who tries to help me!!!!
=)

Answer 1

1. Define a variable. Let "A" represent the 4% amount.
2. Write an equation. Therefore the 6% amount is 8000-A
A*4/100 + (8000-A)*6/100 = 460 interest
3. Solve this equation (step by step).
4A/100 + (48000-6A)/100 = 460
Multiply by 100:
4A + 48000-6A = 46000
Collect like terms on opposite sides:
48000-46000 = 6A-4A
2000 = 2A
A = 1000
4. Answer the original question asked.
Kevin had $1000 in 4% account, $7000 in 6% account.

Answer 2

There are 2 ways to solve this. 1 equation or 2 equation.

1 equation:

x = amount in account x

equation is

.04x + .06(8000 - x) = 460 distribute

.04 + 480 - .06x = 460 combine like terms

-.02x + 480 = 460 subtract 480

-.02x = -20 divide

x = 1000

so account x has 1000 and account has 8000-1000 or 7000

with 2 equations:

x is account x
y is account y

2 equation

.04x + .06y = 460
x + y = 8000
times top equation by 100

4x + 6y = 46000
x + y = 8000 times bottome equation by -4

4x + 6y = 46000
-4x - 4y = -32000 add straight down


2y = 14000 divide

y = 7000 (amount in account y )

so x has 1000

Answer 3

This is homework *help*; all you've done here is to hand us your homework. Where are you having trouble?

Assuming it's right at the beginning, the variable represents the unknown quantity. What datum do you need to know, that has no specific value given in the problem description?