Hello,
I am a college graduate (English) who simply cannot remember how to solve the following equation (it's been almost 10 years since I've used Algebra). I'll post the question:
"Suppose a person invests a total of $10,000 in two accounts. Account A earns 5% annually and Account B earns 6% annually. If the total interest earned from both accounts in a year is $560, how much is invested in each account?"
What I came up with is that x=$ in account A, and y=$ in account B.
(x)(.05) + (y)(.06) = $560
I figured out the answer through just plugging numbers in, but I cannot remember how to GET to what x and y equals by solving this formula. I seem to recall that it has something to do with solving linear equations with two variables, but again, this is something that I do not remember how to do.
Again, I do have the answer (x=4000 and y=6000), but I would really like to remember how to get to these conclusions. Any help would be appreciated. Thanks.
I am a college graduate (English) who simply cannot remember how to solve the following equation (it's been almost 10 years since I've used Algebra). I'll post the question:
"Suppose a person invests a total of $10,000 in two accounts. Account A earns 5% annually and Account B earns 6% annually. If the total interest earned from both accounts in a year is $560, how much is invested in each account?"
What I came up with is that x=$ in account A, and y=$ in account B.
(x)(.05) + (y)(.06) = $560
I figured out the answer through just plugging numbers in, but I cannot remember how to GET to what x and y equals by solving this formula. I seem to recall that it has something to do with solving linear equations with two variables, but again, this is something that I do not remember how to do.
Again, I do have the answer (x=4000 and y=6000), but I would really like to remember how to get to these conclusions. Any help would be appreciated. Thanks.
