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Bizhelp
Bizhelp, Consultant
Category: General
Satisfied Customers: 5884
Experience:  Bachelors degree
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1). Ms. Smith invested $29,000 in two accounts, one yielding

Resolved Question:

1). Ms. Smith invested $29,000 in two accounts, one yielding 4% interest and the other yielding 8%. if she received a total of $1,720 in interest at the end of the year, how much sis she invest in each account? amount invested at 4%___
2). Scott has a collection of 170 old coins consisting of quarters and dimes. if she figures that each coin is worth 5 times its face value, then her collection is worth $122.50. how many of each type of coin does she have?
Submitted: 5 years ago.
Category: General
Expert:  Bizhelp replied 5 years ago.
Hi,

Thanks for your question.

1) Amount invested at 4%: $15,000
Amount invested at 8%: $14,000
Interest: (4% x 15,000) + (8% x 14,000) = 600 + 1120 = $1,720

2) Quantity of:
Dimes: 120
Quarters: 50

Face value of coins = Value of collection / 5 = 122.50 / 5 = $24.50
120 dimes x $0.10 + 50 quarters x $0.25 = $12.00 + $12.50 = $24.50

Hope this helps!
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