Question

10.15] Sharmi and Reese each deposit money into a savings account. Sharmi deposits $200 less than Reese. After the same amount of time, Reese has earned $90 in interest at a rate of 3% per year, and Sharmi has earned $100 in interest at a rate of 5% per year. How much money did Reese and Sharmi initially deposit into their savings accounts?

Answer 1

Reese initially deposited $400, Sharmi initially deposited $200.

Reese initially deposited $600, Sharmi initially deposited $200.

Reese initially deposited $400, Sharmi initially deposited $600.

Reese initially deposited $600, Sharmi initially d

Answer 2

Sorry, revised answers. :)
Reese initially deposited $400, Sharmi initially deposited $200.

Reese initially deposited $600, Sharmi initially deposited $200.

Reese initially deposited $400, Sharmi initially deposited $600.

Reese initially deposited $600, Sharmi initially deposited $400

Answer 3

its always a good idea to rewrite the question to weed out the useless parts

Sharmi deposits $200 less than Reese. S = R-200

After the same amount of time, Reese has earned $90 in interest at a rate of 3% per year,

R(.03) = 90

Sharmi has earned $100 in interest at a rate of 5% per year

S(.05) = 100

How much money did Reese and Sharmi initially deposit into their savings accounts?

Answer 4

since we see that S = R-200, sub that into the S(.05) = 100 and solve for R

Answer 5

if anything, the interest part can get more complicated; depending on if its simple interest or not

Answer 6

Yeah, I guess. :(

Answer 7

Uh..174.8?

Answer 8

I just read up on the simple interest stuff, and i believe my setup is correct

Answer 9

S(.05) = 100

S = R-200

(R-200)(.05) = 100

R(.05) - 200(.05) = 100

R(.05) = 100+ 200(.05)

R = (100+ 200(.05))/(.05)

Answer 10

2200?

Answer 11

yes

Answer 12

Oh,ok, thx, but that isn't a multiple choice answer?

Answer 13

yeah, you sure you got the values correct?

Answer 14

S = 100/.05 = 2000

Answer 15

oh, okay. :) but tht is not a multiple choice either?
the only ones are these...
Reese initially deposited $400, Sharmi initially deposited $200.

Reese initially deposited $600, Sharmi initially deposited $200.

Reese initially deposited $400, Sharmi initially deposited $600.

Reese initially deposited $600, Sharmi initially deposited $400

Answer 16

Reese initially deposited $400, Sharmi initially deposited $600.

Answer 17

Oh, okay, thx, do you have any work?

Answer 18

becasue 600 is 200 less than 400??

Answer 19

That you could show me?

Answer 20

Oh, okay, got it! I see if I hget it right. :(

Answer 21

its either going to be A or D in this case, since those are the only 2 options were R is greater than S

Answer 22

nope

Answer 23

it is C

Answer 24

i am sure

Answer 25

Sharmi deposits $200 less than Reese

Answer 26

yes

Answer 27

It might be c, but also a, I am so confused!

Answer 28

C is Reese initially deposited $400, Sharmi initially deposited $600.

R is less than S , which is simply not applicable to the problem that was stated

Answer 29

so is c is right?

Answer 30

is 600 less than 400 ????

Answer 31

Well, duh? But 200 is less than 400 too!!!

Answer 32

Reese minus 200 equals Sharmi

so its either A or D, since those are the only options where Reese has more than Sharmi

Answer 33

yeah, I guess! Which one????

Answer 34

how many chances you got?

Answer 35

After this test, it is like my last chance!

Answer 36

Do you know anyone who knows Algebra?

Answer 37

yeah, me

Answer 38

and the options dont match the algebra

Answer 39

ohh...okay, which one do you think? this is Algebra 1 !!!

Answer 40

which one do they want you to choose? I dunno, none of them match the question that is asked. But If i were to take a guess, it would be a toss up between A and D

Answer 41

I closed this question a little early so, yeah...:)

Answer 42

I guess I wll try D, that's what katragaddasaichandra said. :)

Answer 43

Sorry, C. :)

Answer 44

Katra said C

Sharmi has earned $100 in interest at a rate of 5%

n(.05) = 100; when n = 2000 and you dont have any options that have 2000 as a solution

Answer 45

can you take a screen shot by chance so that we could see that actual problem?

Answer 46

That's the exact way the ? is written on my test !!!!

Answer 47

Should I just go with C?

Answer 48

I spose you could go with C, it makes as much sense as the other options ... the only thing is that it doesnt conform to the rule that Reese has 200 MORE THAN Sharmi.

Answer 49

Yeah, well thx, for your help! I will let you know if I get it right or wrong. :(

Answer 50

if you copy and paste the first sentence of the problem into google, you get similar if not the same problem; such as this one

http://openstudy.com/study#/updates/4fedfd03e4b0bbec5cfd410c

Answer 51

Ok, I will

Answer 52

Hmm...not very helpful!!!

Answer 53

i think i see something that i was missing

Answer 54

i assumed the time to be a year; and it is not specified

Answer 55

Oh..okay. :D

Answer 56

\[S=R-200\]\[100=S(.05)(t)\]\[90=R(.03)(t)\]
\[\frac{100}{.05t}=S\]\[\frac{90}{.03t}=R\]

\[\frac{100}{.05t}=\frac{90}{.03t}-200\]
\[\frac{100}{.05}=\frac{90}{.03}-200t\]
\[\large \frac{\frac{100}{.05}-\frac{90}{.03}}{-200}=t\]

Answer 57

So the answer is c?

Answer 58

t = 5 ... which .... no, the answer is not C since 400 is NOT less than 600, still

Answer 59

nope, you r right! W=either a or d. :D Do you know which one?

Answer 60

now that i know t, i can solve for S or R\[\frac{100}{.05t}=S\]\[\frac{100}{5(.05)}=S\]\[\frac{20}{.05}=S\]
so what is S according to this?

Answer 61

400/

Answer 62

then Sarmi has 400 and Reese has 200 more, or 600; does D match that?

Answer 63

Yes1 OMG! Thank you! I am really bad at Algebra! LOL> :)

Answer 64

'sok, that "time" was the key. I had stupidly assumed it to be 1

Answer 65

LOL! Can you help me with one more?

Answer 66

write it up in a new post, and tag me in it so i can find it

Answer 67

i might be able to work something out

Answer 68

Ok, thx, the new post is coming upo, try to find it! :)

Answer 69

im old and blind .... use: @amistre64 to shot me a link to it