Melanie
Melanie invests a total of $21,500 in two accounts. The first account earned a rate of return of 15% (after a year). However, the second account suffered a 10% loss in the same time period. At the end of one year, the total amount of money gained was $225.00. How much was invested into each account?
Final Answer:
Tips for related online calculators
Do you have a linear equation or system of equations and are looking for a solution? Or do you have a quadratic equation?
You need to know the following knowledge to solve this word math problem:
algebraUnits of physical quantitiesGrade of the word problem
Related math problems and questions:
- Deposit
A total of $15,000 is deposited into two simple interest accounts. One account earns an annual interest rate of 6% and the other earns 7%. How much should be invested in each account so that the total interest earned is $970? - Annual pension
Calculate the amount of money generating an annual pension of EUR 1000, payable at the end of the year and for a period of 10 years, which shall be inserted into the bank to account with an annual interest rate of 2% - Future value
Suppose you invested $1000 per quarter over 15 years. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earned? - Two accounts
A banker divided $5000 between 2 accounts, one paying 10% annual interest and the second paying 8% annual interest. Express the amount invested in the 10% account in terms of the amount invested in the 8% account. - Overdraft account
Many bank accounts never go below zero. However, some banks will allow a negative balance, at least for a short time, called an overdraft. It means someone has taken out, or 'drafted', more money than was in the account, to begin with. Hannah's account we - Account interest rate At the end of the year, the lady had 360,009 CZK in her account with added interest. What was the amount at the beginning of the year if the interest rate was 10.5% pa?
- Mr. Brown
Mr. Brown invested 15,000 euros in the bank for an annual term deposit. After the first year, he gained 600 euros. What was the annual interest rate of his deposit?
