Tigerlilly W.

asked • 11/20/14

mixture problems

answer asap
$\mbox{An investment firm invested \$1900 into two accounts. \$1200}$
$\mbox{went to an 8% annual rate account. The rest went to a 7% }$
$\mbox{annual rate account. The interest the first year amounted to:}$

1 Expert Answer

By:

Keri V. answered • 11/20/14

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Drexel University Grad for Chemistry and Math Tutoring

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1900-1200 = $700
 
So $700 went into the 7% annual rate account.
 
Thus:
to remove the percentages divide the numbers by 100%:
8%/100% = 0.08
7%/100% = 0.07
 
So to calculate the interest for each account, multiply the value you just calculated by the corrisponding dollar amounts:
 
$1200 * 0.08 = $96
 
$700 * 0.07 = $49
 
Add the two values together to get the total interest for the first year:
 
$96 + $49 = $145
 
 
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