word problems involving investments. investment type problems are a type of mixture problem. in this...
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Word Problems Involving Investments
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Investment type problems are a type of mixture problem. In this type of problem we are mixing money into different accounts. For example…...
Ron Burgandy has $15,000 to invest. He plans to diversify his money by investing it in two different accounts. One account gives 11.5% interest and the other 9% interest. If he wants to make $1562.50 in interest in the first year, how much should he place in each account?
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Ron Burgandy has $15,000 to invest. He plans to diversify his money by investing it in two different accounts. One account gives 11.5% interest and the other 9% interest. If he wants to make $1562.50 in interest in the first year, how much should he place in each account?
Principal Rate Interest
First Acct.
Second Acct.
Total
.115
.09
x
15000 - x
The interest of the 2 accounts added together equal the total.
.115x
.09(15000-x)
15,000 1562.50
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Ron invested $8500 in the 11.5% acct. and $6500 in the 9% acct. BACK
50.15621500009.115. xx
50.156209.1350115. xx
50.15621350025. x50.212025. x
8500x6500850015000
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Chazz Michael Michaels invested $12,500 in two simple interest accounts. One account earns annual simple interest of 7% while the other earns 6%. How much was invested at each rate if each account earned the same interest? Round your answer to the nearest dollar.
Principle Rate Interest
7% x .07
6% 12500- x .06
12,500
BACK
.07x
.06(12500-x)
To write the equation, the original problem states that the amount of interest is equal. xx 1250006.07.
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xx 1250006.07.
xx 06.75007.
75013. x
5769$23.5769 x
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Word Problems Involving Investments