Question

Last year, Hans had
$30,000
to invest. He invested some of it in an account that paid
9%
simple interest per year, and he invested the rest in an account that paid
5%
simple interest per year. After one year, he received a total of
$2060
in interest. How much did he invest in each account?

Answer 1

What Do Yhu Think It Is?

Answer 2

I know that the total is 2060 dollars after 1 year.

Answer 3

And the year before, he 30,000 dollars to invest in. In the first account he had invested 9% and in the second he invested 5%.

Answer 4

But my problem is putting the problem together in order to solve it.

Answer 5

Could you help me with that please?

Answer 6

So Yhu Know Yhu Have To Figure Out The Percentages Right?

Answer 7

Yhu Have To Find The Number They Represent Before Yhu Can Do Anything Else

Answer 8

So wouldnt that mean that 9% represents account 1. 5% represents account 2.
2060 dollars represents the total amount and 30,000 dollars represents the amount he had the previous year. Is that right?

Answer 9

Yes! Correct ! :)

Answer 10

Ok, I have that down :)

Answer 11

So can I tell you what I think the equation is and you can help me put it together if it's wrong please?

Answer 12

What do I have to divide?

Answer 13

Oh And Yes Yhu Can Let Me See Yhur Equation

Answer 14

I Didnt Mean To Put The Divide Part

Answer 15

Oh ok

Answer 16

So Whats Yhur Equation?

Answer 17

0.09x+0.05y=2060

x+y=30,000

Answer 18

Is this correct?

Answer 19

Yes Because Yhu Had To Find What The Percentages Represented And Yhu Did. Then Yhu Add Them Together Which Got Yhu To 2060 Then The Variables Equal How Much Money Hans Had :)

Answer 20

so do I have to first subtract y on both sides from X+Y=30,000?

Answer 21

Yes Correct

Answer 22

Ok I am doing this right now and I will tell you what answer I get

Answer 23

y=16,000? Is that correct?

Answer 24

Which would account 2=16,000

Answer 25

Yes!! See, Yhu Dont Need Help :) Yhur Doin Great

Answer 26

Haha thank you :) I just never know if I'm getting the problem right, so I always like to make sure. Thank you :)
Also, I put 16,000 into the Y variable in "X+Y=30,000" and I got the answer X=14,000.
Is that correct?

Answer 27

Yup. Thats The Answer! :)

Answer 28

I typed in the answer and it was right! Thank you :)
Do you think you could please help me with one more?

Answer 29

I will post the next question

Answer 30

Yeah