Alewuya invests a total of $24,500 in two accounts paying 2% and 12% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,690.00. A) Enter an equation that uses the information as it is given that can be used to solve this problem. Use a as your variable to represent the amount of money invested in the account paying 2% simple interest. Equation: B) The answers are: S was invested at 2% and was invested at 12%. Question Help: Video Submit Question
Alewuya invests a total of $24,500 in two accounts paying 2% and 12% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,690.00. A) Enter an equation that uses the information as it is given that can be used to solve this problem. Use a as your variable to represent the amount of money invested in the account paying 2% simple interest. Equation: B) The answers are: S was invested at 2% and was invested at 12%. Question Help: Video Submit Question
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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![**Problem Statement:**
Alewuya invests a total of $24,500 in two accounts paying 2% and 12% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,690.00?
**Part A: Formulating the Equation**
*Task:* Enter an equation that uses the information as it is given that can be used to solve this problem. Use \( x \) as your variable to represent the amount of money invested in the account paying 2% simple interest.
*Equation:*
\[ x \times 0.02 + (24500 - x) \times 0.12 = 1690 \]
**Part B: Solving the Problem**
*Task:* Determine how much was invested in each account.
*The answers are:*
\[ \$ \_\_\_\_\_ \] was invested at 2% and
\[ \$ \_\_\_\_\_ \] was invested at 12%.
**Question Help:**
[Video tutorial available]
**Submit Answer Button**
**Explanation of Symbols:**
- \( x \) is the amount of money invested in the account with 2% interest.
- \( 24500 - x \) is the amount of money invested in the account with 12% interest.
- The equation accounts for the sum of interests from both investments totaling $1,690.00 after one year.
**Calculation Steps:**
1. Substitute the given values and solve the equation for \( x \).
2. Calculate the amounts invested at 2% and 12% interest respectively.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F661e79ee-05f0-4794-8531-9b5261a2e126%2F313a7ede-df09-4b76-81f2-f926bd482031%2Fmdkwz8q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Problem Statement:**
Alewuya invests a total of $24,500 in two accounts paying 2% and 12% simple interest, respectively. How much was invested in each account if, after one year, the total interest was $1,690.00?
**Part A: Formulating the Equation**
*Task:* Enter an equation that uses the information as it is given that can be used to solve this problem. Use \( x \) as your variable to represent the amount of money invested in the account paying 2% simple interest.
*Equation:*
\[ x \times 0.02 + (24500 - x) \times 0.12 = 1690 \]
**Part B: Solving the Problem**
*Task:* Determine how much was invested in each account.
*The answers are:*
\[ \$ \_\_\_\_\_ \] was invested at 2% and
\[ \$ \_\_\_\_\_ \] was invested at 12%.
**Question Help:**
[Video tutorial available]
**Submit Answer Button**
**Explanation of Symbols:**
- \( x \) is the amount of money invested in the account with 2% interest.
- \( 24500 - x \) is the amount of money invested in the account with 12% interest.
- The equation accounts for the sum of interests from both investments totaling $1,690.00 after one year.
**Calculation Steps:**
1. Substitute the given values and solve the equation for \( x \).
2. Calculate the amounts invested at 2% and 12% interest respectively.
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