At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.
Sagot :
a = amount invested at 5%
b = amount invested at 2%
now, we know the total invested by Mr Wilson was 20000, so whatever "a" and "b" might be, we know that a + b = 20000.
[tex]a + b = 20000\implies b = 20000-a \\\\[-0.35em] ~\dotfill\\\\ \stackrel{\textit{5\% of a}}{\left( \cfrac{5}{100} \right)a}\implies 0.05a~\hfill \stackrel{\textit{2\% of b}}{\left( \cfrac{2}{100} \right)a}\implies \begin{array}{llll} 0.02b\\\\ \stackrel{substituting}{0.02(20000-a)} \end{array}[/tex]
now, we know the total of earned interest is 550 bucks, so then
[tex]0.05a~~ + ~~0.02(20000-a)~~ = ~~550\implies 0.05a+400-0.02a=550 \\\\\\ 0.03a+400=550\implies 0.03a=150\implies a=\cfrac{150}{0.03}\implies a=5000 \\\\\\ ~\hspace{24em}\stackrel{20000~~ - ~~5000}{b=15000}[/tex]
We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.
