Percentage/Investment word problems  TOPIC_SOLVED

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Percentage/Investment word problems

Postby Jennynguyen_22 on Mon Feb 10, 2014 9:01 am

More word problems... Help please!

1. Kristi invests $1500 at a 7.25% annual simple interest rate, and her sister Kari invests $2000 at a 6.75% annual simple interest rate. Which of the two will earn the greater amount of interest after one year? How much greater?

2. A $5000 investment at an annual simple interest rate of 5.2% earned as much interest after one year as another investment in an account that earned 6.5% annual simple interest. How much was invested at 6.5%?
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Re: Percentage/Investment word problems  TOPIC_SOLVED

Postby buddy on Mon Feb 10, 2014 11:12 am

Jennynguyen_22 wrote:1. Kristi invests $1500 at a 7.25% annual simple interest rate, and her sister Kari invests $2000 at a 6.75% annual simple interest rate. Which of the two will earn the greater amount of interest after one year? How much greater?

2. A $5000 investment at an annual simple interest rate of 5.2% earned as much interest after one year as another investment in an account that earned 6.5% annual simple interest. How much was invested at 6.5%?

to learn about investment probs try here
to refresh on percents try here

So Prob 1 starts like Kristi = (1500)(0.0725) & Kari = (2000)(0.0675) Then do the multiplication and see which number is bigger. For Prob 2 find the interest for the $5000 and then go backwards to find "principal" P that was invested.
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