General

General

# 1). Ms. Smith invested \$29,000 in two accounts, one yielding

Customer Question
4% interest and the other...
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: 6 years ago.Category: General
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11/20/2011
Expert: Bizhelp, Consultant replied 6 years ago
Bizhelp, Consultant
Category: General
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Hi,

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!
Bizhelp, Consultant
Category: General
Satisfied Customers: 5,884
Experience: Bachelors degree
Verified
Bizhelp, Consultant
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