I've always struggled with these equations and I'm in need of some serious math help. The question is- Paula invested $500 part at 5 1/2% in savings and part at 7% in bonds. Her income from this in one year was $33.50. How much did she invest at 5 1/2%? Not only do I need help with the answer, I need help finding out HOW to get the answer for future problems. TY!
CrazedPorcupine2 votesit's a linear equation for the solution...
.055(500)x+.07(500)y=33.50
Seshs1 votesSo how does it function? Can you work out the equation for me and tell me what you did step-by-step? Sorry, I'm just terrible at math.
CrazedPorcupine1 votesSo, I actually derped on the question, it's a system of 2 equations.
It's x+y = 500 and .055x+.07y = 33.50
Solve for x and y in whichever method you prefer, substitution, augmented matrix, whatever you want.
How this works, X and Y are the variables for how much money is invested at each rate. That total should equal 500, your original started amount.
The 2nd equation is .055 (5.5%) of X + .07 (7%) of Y should equal 33.50
That's how you get the solution.