Invest Simple Interest 2 - 2 variables
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Lesson Description:
Uses 2 variables and a system of equations to solve: 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?
More free YouTube videos by Julie Harland are organized at http://yourmathgal.com
Questions answered by this video:
- How do you solve a simple interest problem that uses two accounts?
- what are the possible formulas used to solve simple interest problems?
- How can you check the solution of a simple interest problem?
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Staff Review
This video solves a simple interest problem that contains two different accounts with two different interest rates, or two variables. The possible formulas used to solve are shown, and a table is formed, organizing all the given information about the problem. The problem is then solved, step by step, and checked. useful shortcuts and common mistakes are also pointed out during the video.
