Invest Simple Interest 2 - 1 variable
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Lesson Description:
A total of $7,000 was invested in two simple interest accounts such that the annual interest earned in each account was the same. The interest rates of the accounts were 15% and 20%. How much was invested in each account?
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Questions answered by this video:
- How do you solve a simple interest problem using only one variable in the solution?
- What are the formulas used when solving simple interest problems?
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Staff Review
This video does a good job of teaching step by step how to solve a simple interest problem that involves two accounts, with only one variable. Using only one variable to build an equation to solve makes the entire problem easier, and a final answer is reached much easier.
