Question

Solve the problem.



The formula A = P + Prt represents the value, A, of an investment of P dollars at a yearly simple interest rate, r, for t years. The equation to model the value, A, of an investment of $54 at 9.26% for t years is given by



A = 54 + 5t.



The equation to model the value, A, of an investment of $84 at 2.38% for t years is given by



A = 84 + 2t.



Assuming A has the same value, the given equations form a system of two linear equations. Solve this system using an algebraic approach and interpret your answer.

a. t = 5

The two investments

Answer 1

d. t=10