Math Problem Statement
Solution
The problem in the image asks to write and solve a system of equations based on the given simple interest situation:
- Total investment is $13,000.
- The interest generated is $500 per year.
- The interest rates are 2% and 5%.
Define variables:
- Let be the amount invested at 2%.
- Let be the amount invested at 5%.
We know:
- (the total amount invested is $13,000).
- The interest from each part is calculated using simple interest formula , where is the principal and is the rate.
- The total interest earned is $500. So, the interest equation is:
System of equations:
Solving the system:
Step 1: Solve for in terms of from the first equation:
Step 2: Substitute into the second equation:
Expand the equation: Combine like terms: Solve for :
Step 3: Solve for :
Conclusion:
- The amount invested at 2% is $5,000.
- The amount invested at 5% is $8,000.
Would you like further details or have any questions about this?
Here are 5 questions to deepen understanding:
- How would the equations change if the total investment were different?
- What happens if both interest rates were the same?
- Can you use substitution or elimination to solve this system?
- How does the simple interest formula change if the time is more than 1 year?
- What if the total interest earned was $600 instead of $500?
Tip: Always check your solution by substituting the values back into both original equations to ensure they satisfy both conditions.
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Math Problem Analysis
Mathematical Concepts
Algebra
Linear Equations
Simple Interest
Formulas
Simple interest formula: I = P * r
System of linear equations: x + y = 13,000, 0.02x + 0.05y = 500
Theorems
Solving systems of linear equations by substitution
Suitable Grade Level
Grades 8-10
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