Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Algebra help please!?

Bob has two savings accounts. He deposited $100 more into account B than account A. After a period of time, account A has earned $105 in interest at 7%, and account B has earned $80 in interest at a rate of 5%.

Write an equation to represent the situation. Explain each variable used.

How much money did Bob initially deposit into each account? Solve the equation.

5 Answers

Relevance
  • Anonymous
    10 years ago
    Favorite Answer

    Let the amount of money with A is $ X

    then the amount of money with B is $ 100+X

    Interest Earned By A is $105

    That is

    7% of X = $105

    X= ($105*100)/7

    X=$1605

  • 10 years ago

    A = B + 100 <- 100 more into account A than account B

    a = p ( 1+r/n)^nt n is the number of compounds per year, r is interest rate and p is principle. t is time in years. Filling in that formula we get:

    A+105=A(1.07)^t - A will grow by 105 when it earns interest at 7% (1.07) over some time

    B+80=B(1.05)^t - B will grow by 80 when it earns interest over some time (same variable, same time) at 5^ (1.05)

    solve({A+100=B,A+105=A(1.07)^t,

    B+80=B(1.05)^t})

    The stupid thing took out half of my solve, presuming it was evil, I guess. I'm editing, I'll fold it.. This is the right way to do it, you *should* use the interest formula, not just multiply by 1.07 - and I believe that these are actually the right answers.

    Anyway, In other words, A will have 105 dollars more at 7%, and B will grow (B+80) at 1.05, or 5%

    We know that time is supposed to be equal but we don't care what it is, and we are not compounding. We get this answer from that system of 3 equations:

    (A=1499.9999999998274, B=1599.9999999998274, t=1.0000000000001)

    Rounding, A started with 1500, B started with 1600, and this all happened in 1 year.

    (A=1500, B=1600, t=1)

  • 10 years ago

    Let the amount invested in Account A be x $

    And amount invested in Account B be ( x+ 100) $

    Interest earned in Account A = 7/100 X x = 0.07x = 105

    x = 10500/7 = 1500 $

    Interest earned in Account B = 0.05 ( x + 100) = 80

    0.05x + 5 = 80

    0.05x = 75

    x = 75 /.05 = 1500 $

    ANSWER Account A = 1500 $ Account B = 1600 $

    CHECK

    1500 X 7/100 = 105$

    1600 X 5/100 = 80 $

  • 10 years ago

    You have to create the equations first. A= account A. B = account B

    A+$100=B

    Then you can find the original values. $105 is 7% of what number? 105/.07 =$1500.

    therefore. A was originally $1500. You don't even need to use the interest earned in B. just add $100 to A.

    A=1500

    B=1600

  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    10 years ago

    Ok so lets use x for the money

    So if he put x in account A, he put x+100 in account B.

    Account A

    x(.07)=105

    x=1500

    Account B

    (x+100)(.05)=80

    .05x+5=80

    x=1500

    So we got x=1500 from both equations so we know we are right.

    That means in account A he put 1500 and in account B he put 1600

Still have questions? Get your answers by asking now.