Helene invested a total of $1000 in two simple-interest bank account. One account paid 5% annual interest; the other paid 6% annual interest. The total amount of interest she earn after 1 year was %58. Find the amount invested in each account.
Please solve using the variable and show the work, and giving out what does the variable stand for.
Helene invested a total of $1000 in two simple-interest bank account. One account paid 5% annual interest; the other paid 6% annual interest. The total amount of interest she earn after 1 year was %58. Find the amount invested in each account.
Since you don't indicate how the $1,000 is split into two Bank acounts, we will asume that it is split in half, therefore we have:
1000/2=$500 in each account
500 X 5%=$25.00 interest earned in 5% Bank account.
500 X 6%=$30.00 interest earned in 6% Bank account.
$25.00 + $30.00=$55.00 total interest earned on both Bank accounts.
$55/$1000=5.50% percentage of interest on his two savings accounts.
I don't undestand what you mean by "variable". The only variable in this case is the interest rates. The higher the rate the more money she will earn. Conversely, the lower the interest rate is the less money she will earn.
