Can somebody help me with my math?
Question:
A PRINCIPLE OF $12,000 WAS INVESTED INTO 2 ACCOUNTS. ONE ACCOUNT WAS INVESTED IN A MUNI BONDS WHICH GENERATED 6% INTEREST. THE OTHER ACCOUNT WAS INVESTED IN UTILITY STOCKS WHICH GENERATED 10% INTEREST. THE TOTAL INTEREST AMOUNT FROM THE 2 ACCOUNTS WAS $850. HOW MUCH WAS INVESTED IN EACH ACCOUNT?
Answer:
Let "x", "y" represent the investment made in the Muni Bond and Utility Stocks respectively.
Total Investment = $12,000
==> x + y = 12,000 --> (1)
Interest earned = Principal x Rate of interest
Muni Bonds generated 6% interest
==> Interest earned on Muni Bonds
= (x) x (6%)
= 0.06x
Utility Stocks generated 10% interest
==> Interest earned on Muni Bonds
= (y) x (10%)
= 0.1y
Total Interest earned = $850
==> 0.06x + 0.1y = 850 --> (2)
From (1)
x + y = 12,000
==> x = 12,000 - y --> (1A)
Substituting the value of x from (1A) in (2) we get
0.06 (12,000 - y) + 0.1y = 850
==>0.06 * 12,000 - 0.06 * y + 0.1y = 850
==>720 - 0.06 y + 0.1y = 850
==>0.04y = 850 - 720
==>0.04y = 130
==>4y = 13000
==>y = 13000/4
==>y = 3250 --> (3)
Substituting the value of y from (3) in (1A) we get
==> x = 12,000 - 3250
==> x = 8750
The amount invested in 6% Muni Bonds is 8,750 and 10% Utility stocks is 3,250
http://www.schoolingkids.com/
that is hard what grade r u in?
x + y = 12,000
.06x + .10y = 850 .10y = 850 - .06x
y = (850/.10) - (.06/.10)x y = 8500 - .6x
x + 8500 - .6x = 12,000
.4x=3500
x=8750
y = 8500 - (.6)(8750) = 8500 - 5250 = 3250
therefore, $8750 was invested into the account with 6 % interest, and $3250 was invested into the account with 10% interest
We did interest in school, but I do not know how to find the interest of the second account: you need to know at least two of the three: principle, rate, and time. By the way, the guy that did the math made a mistake: 6% is not .6 in decimals; it is .06.
i dunno
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