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Mathematics 11 Online
OpenStudy (anonymous):

Julio wants to deposit $1500 into savings accounts at three different banks: Bank of Chance, Merchant Bank, and Utopian Financing. He will deposit five times as much into Merchant Bank as Bank of Chance because they offer a higher interest rate. He also expects the Utopian Financing deposit to be only 25% of the total of the other two deposits. How much will Julio deposit into the Utopian Financing savings account?

OpenStudy (pfenn1):

The trick in solving "word problems" is translating words into mathematical equations. If x=money deposited into Bank of Chance y=money deposited into Merchant Bank z=money deposited into Utopian Financing then how would you write "deposit $1500 into savings accounts at three different banks:" as a mathematical equation?

OpenStudy (pfenn1):

\[x+y+z=1500\]How about "deposit five times as much into Merchant Bank as Bank of Chance?

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