Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
Formula for simple interest:
A = P(1 + rt)
P = Principal
r = interest rate (r1 = 5% and r2 = 10%)
t = time in years (1 year)
In the first account:
A = P(1 + rt)
A1 = P1(1 + 0.05)
In the second account:
A2 = P2(1 + 0.10)
Also A1 + A2 = 1075
And P1 + P2 = 1000
If we use both account equations in the third equation:
A1 + A2 = 1075
P1(1 + 0.05) + P2(1 + 0.10) = 1075
1.05 P1 + 1.10 P2 = 1075
P1 = (1075 -1.10 P2)/1.05
Since P1 + P2 = 1000
then (1075 -1.10 P2)/1.05 + P2 = 1000
(1075 -1.10 P2) + 1.05 P2 = 1000 (1.05) = 1050
1075 - 1.10 P2 + 1.05 P2 = 1050
-0.05 P2 = 1050 - 1075 = -25
P2 = -25/(-0.05) = 500
P1 = 1000 - P2 = 1000 - 500 = 500
Answer:
In the 5% account Helene invested: 500
In the 10% account Helene invested: 500
We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We appreciate your time. Please come back anytime for the latest information and answers to your questions. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.