Concept explainers
To find: the amount invested in each account
Answer to Problem 43RE
The amount invested on
Explanation of Solution
Given:
Paying interest 6% and 7%
Annual interest income $600
Calculation:
Consider the data
Interest per year on first account is
Interest per year on second account is
Investment on second account twice than the first account and annual interest income is
Let x = amount invested on first account.
y = amount invested on second account.
Convert each fact in the problem to an equation.
The investment on second account twice than the first account
And
Therefore, the system of equations is
Use these together to solve the system. Change the system to triangular form by eliminating the
The work is shown as follows.
So, the equivalent system one step closer to triangular form is
The system is in triangular form. Use back substitution to solve the system. From the second equation,
Back substitute
Therefore, the solution to the system of equations is
Thus, the amount invested on
Conclusion: The amount invested on
Chapter 10 Solutions
Precalculus: Mathematics for Calculus - 6th Edition
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- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning