Invest Simple Interest 1 - 1 variable
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Lesson Description:
A total of $8,000 is deposited in 2 simple interest accounts. The annual interest rate is 12% in one account and 10% in the other account. The total annual interest earned was $900. How much was invested in each account?
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Questions answered by this video:
- What are the formulas used in simple interest problems?
- How do you determine the distribution of an amount of money in two separate accounts if we know the net interest?
- How do you solve an investment simple interest problem containing multiple accounts using only one variable?
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Staff Review
This video does a good job of teaching the step by step process of how to solve a simple interest problem that uses two accounts, while only using one variable. Clean cut tables are used to build an equation, piece by piece, which is then solved. Different methods of solving are also briefly discussed.
