Interest Word Problems | MathHelp.com - By MathHelp.com
Transcript
| 00:00 | Pam invested $5,000 . She earned 14 on part of | |
| 00:06 | her investment And six on the rest . If she | |
| 00:11 | earned a total of $396 in interest for the year | |
| 00:17 | , how much did she invest ? Eddie trait . | |
| 00:22 | I would start this problem by setting up a chart | |
| 00:25 | based on our formula amount invested , times rate of | |
| 00:30 | interest equals interest earned down the left side of the | |
| 00:35 | chart , we have the two different types of investments | |
| 00:40 | that pam makes The 14 investment and the six investment | |
| 00:47 | For the amount invested column . We know that Ham | |
| 00:50 | invested $5000 but we don't know how much he invested | |
| 00:56 | at each rate . So we use X and 5000 | |
| 01:03 | minus X . To represent The amount she invested eight | |
| 01:08 | . Each rate for the rate column We translate our | |
| 01:13 | 2%ages to decimal form , So 14 becomes point 14 | |
| 01:23 | and six becomes point oh six . Remember six means | |
| 01:30 | 6 over 100 or 0.6 . Based on our formula | |
| 01:38 | , We can multiply the first two columns in our | |
| 01:40 | chart together to fill out the third column . So | |
| 01:45 | we have x times .14 which is .14 x And | |
| 01:52 | 5000 -X . Times six or six times prince sees | |
| 01:59 | 5000 - X . Reading through the last part of | |
| 02:05 | the problem , we know that she earned a total | |
| 02:08 | of $396 in interest for the year . So if | |
| 02:13 | we add up the two amounts of interest that she | |
| 02:16 | earned at each rate , We'll get a total of | |
| 02:21 | 396 . So we can set up an equation that | |
| 02:25 | reads .14 X . Mhm plus .6 times prince sees | |
| 02:38 | 5000 -1 equals 3 96 . Solving from here we | |
| 02:50 | find that X equals 1200 . If you need a | |
| 02:58 | review of how to solve equations that involve decimals , | |
| 03:03 | go back to that unit in the equations chapter . | |
| 03:10 | So we know that pam invested $1200 At 14 interest | |
| 03:27 | , And the amount she invested at six is represented | |
| 03:31 | by 5000 minus X , which is 5000 minus 1200 | |
| 03:38 | or $3,800 at 6% . Mhm . |
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