Transcript Investment Application

Investment Application

A man has $34,000 to invest. He invests
some at 17% and the balance at 20%.
His total annual interest income is
$6245. Find the amount invested at
each rate.
Solving…
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Organize pertinent
info.
Write an equation.
Solve the equation.
ANSWER THE
QUESTION(S).
Check
Percent Amt
as
invested
decimal
Interest
earned
.17
X
.17x
.20
34000-x
.2(34000-x)
6245
Equation: .17 x  .2(34000  x)  6245
Solve
Solve the equation.  $18,500 at 17%
 15,500 at 20%
 Answer the
question(s).
 Check your answer.
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Check
by
.17(18500) + .2(15500) ?= 6245
Money Application

Sam Abo-zahrah has a box of coins
that he uses when playing poker with
his friends. The box currently contains
44 coins, consisting of pennies, dimes
and quarters. The number of pennies is
equal to the number of dimes, and the
total value is $4.37. How many of each
denomination of coin does he have in
the box?
Coin Box
Organizing Pertinent Info:
Number of
coins
x
Denomination/ Value of coins
Value of ONE
coin
.01
.01x
x
.25
Coin Box
Organizing Pertinent Info:
Number of
coins
x
Denomination/ Value of coins
Value of ONE
coin
.01
.01x
x
.10
.10x
44 – x - x =
44 - 2x
.25
.25(44 - 2x)
Make an Equation and Solve it
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Total of all coins is $4.37.
.01x + .10x + .25(44 - 2x) = 4.37
x + 10x + 25(44 – 2x) = 437
11x + 1100 – 50x = 437
-39x = -663
X = 17
Answer the Question and
Check
X=17 means there are 17 pennies and
dimes.
 44 – 2(17) gives the number of
quarters. There are 10 quarters.
 To check: Add the money to see if it
totals $4.37.
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In Pairs,
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Work on your HW problems in Chapter
2 Sections 3 & 4 for practice.
2.3: 31, 37, 43
 2.4: 12, 17, 27 (substituting 12 for 11)
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