Question

Interest Problem: Julian deposits money into two different savings accounts. He deposits $600 more into Account B than Account A. After a certain amount of time, Account A has earned $180 at a rate of 4%, and Account B has earned $375 at a rate of 5%. How much did Julian initially deposit into each account?
a. Use I=prt where I is the earned interest, p is the principal, r is the interest rate and t is the time.
b. Identify the given information. What do you know about P? I
c. Enter the given information into the equation.
d. Solve the equation.
e. State the solution.

Answer 1

ok i will try is it multiple choice?

Answer 2

nope.
finally someone at least looks at it

Answer 3

abcd and all that are the steps

Answer 4

ok i got this just hang on

Answer 5

kk

Answer 6

what is the name of your math book?

Answer 7

i don't have one its florida virtual school

Answer 8

ahh ok i am homeschooled as well

Answer 9

no I'm not home schooled its just an extra class cuz i like to get ahead of my grade

Answer 10

Account B = Account A +600, this information should help you set up (a)

Answer 11

i guess i will let this guy handle things

Answer 12

i saw something like that on yahoo answers but i need to use I= prt

Answer 13

idk if he's right

Answer 14

ok hang on

Answer 15

hello

Answer 16

new viewer in the house woot woot

Answer 17

im sorry cant figure it out

Answer 18

:(

Answer 19

come on vadatajs you can do it!

Answer 20

I=prt for A you have $180=(x)(4)(t), for B you have $375=(x+600)(5)(t)

Answer 21

im so sorry im just not that smart

Answer 22

where x is the principal, and t is the time, since neither are stated, you must use variables

Answer 23

this is algebra 1

Answer 24

i know i just started it

Answer 25

@Vadatajs can u solve it please

Answer 26

oh yeah this is at the end. good luck. i hate taking online classes -_-

Answer 27

I=pr^t
For account A you have $180=(x)(1.04)^(t), and for B you have $375=(x+600)(1.05)^(t).

Am I right? Im pretty sure the t should be exponential.

Answer 28

i have no idea

Answer 29

To solve a problem involving simple interest and two accounts, use the equation

I/pr= I/pr

where I represents the amount of interest earned, P represents the initial amount deposited, and r represents the interest rate. Make sure the left side of the equation contains the information for one account, and the right side contains the information for the other account. Enter the given information into the equation and solve for the unknown variable.

Answer 30

Ok its not exponential ( http://www.teacherschoice.com.au/maths_library/money/simple_interest.htm), that makes it easier...

So the new equations are
Account A is $180=(x)(.04)(t)
Account B is $375=(x+600)(1.05)(t)

4500/t=x

375=4725t/t + 630t
4325=630t
t=6.904
x=651.72

Answer 31

are you positive thats right?

Answer 32

@ZhangYan is it right?

Answer 33

let A = amount deposited in A
B = A+600

A*0.04 =180; A= 180/0.04 = 4,500
B*0.05=375; B = 375/0.05 = 7,500
principal*interest rate = interest earns
principal = A or B
interest rate is presumed to be EAR and not APR, which would introduce timing problems and would have explained the discrepancies above.

Answer 34

hope this helps :)

Answer 35

so can you work it out for me please i have no idea

Answer 36

Sorry about that, the answer is t=5, x=900

Answer 37

i already did. I'll show u the example

Let the deposit in Account A be x

4% of x = 180

Assuming the deposit is for one year,

x = 4,500

Deposit in Account B

= x + 600

= 5100

Interest at 5% for one year

= 255

Interest earned as per the problem is 375

= 255 x 1.47

The deposit in Account B is $7,500

The deposit in Account A is $6,615

Answer 38

is the work correct though @DeoxNA

Answer 39

Account A is $180=(x)(.04)(t)
Account B is $375=(x+600)(1.05)(t)

4500/t=x

375=0.05xt+30t

375=225t/t + 30t
t=5
x=900

Answer 40

and thanks @ZhangYan but i needed it in the right equation of i = prt

Answer 41

welcome

Answer 42

wait but @DeoxNA u didn't use principal

Answer 43

im confused af

Answer 44

The principal is x

Answer 45

oh okay and whats r the numbers?

Answer 46

I'm pretty sure its wrong cuz theres only supposed to be one solution dn u gave two...

Answer 47

yay viewers!

Answer 48

are u guys just gonna stare at the question or answer it

Answer 49

A = P(1 + i)^n

A = Amount
P = Principal invested
i = interest rate
n = number of years

Let x = amount deposited in account A
Amount deposited in account B = x + 600
1) (x + 180) = x(1.04)^n
2) (x + 600 + 375) = (x + 600)(1.05)^n >>> ( x+975) = (x + 600)*1.05^n

Answer 50

does this help this time

Answer 51

makes since to me thanks

Answer 52

@nicole1217 are you there?

Answer 53

ok then leave the rest to me Bye

Answer 54

I'm sorry i don't think thats right

Answer 55

yes it is correct...

Answer 56

are you sure I'm just confused about the format

Answer 57

why it doesn't make any sense to you well @countonme123 understood....

Answer 58

@nicole1217 I'm pretty sure the answer I gave you right, the question was asking for the initla money deposited, which is the variable x in my equation. The problem requieres two variables to be solved, but the answer to the question is x=900.

Answer 59

everyone doesnt learn the same