3.4.13
E Question Help
Scott invested a total of $5900 at two separate banks. One bank pays simple interest of 12% per year while the other pays simple interest at a rate of 6% per year. If
Scott earned $540.00 in interest during a single year, how much did he have on deposit in each bank?
Scott had $ 2,800 on deposit at the bank that payed 12% interest.

Step-by-step explanation:

Let x represent the amount on deposit at 12%. Then 5900-x is the amount deposited at 6%, and the total interest earned is ...

  12%·x +6%·(5900 -x) = 540

  0.06x + 354 = 540 . . . . . . . . eliminate parentheses

  0.06x = 186 . . . . . . . . . . . . . . subtract 354

  x = 3100 . . . . . . . . . . . . . . . . . divide by 0.06

Scott invested $3100 at 12% and $2800 at 6%.

Quick sanity check

The average interest earned is $540/$5900 ≈ 0.0915 ≈ 9.15%. This is more than the average of 12% and 6%, which is (12+6)/2 = 9 percent. Hence more than half of the money must be deposited at 12%.

the correct answer is option c.   3

step-by-step explanation:

points to remember

equation of the line with coordinates (x₁, y₁) and (x₂, y₂) is given by,

slope m = (y₂ - y₁)/(x₂ - x₁)

from the figure we can see a line with two coordinates given

to find the slope of given line

here   (x₁, y₁)   = (-1, -1 ) and (x₂, y₂) = (1, 5)

slope m = (y₂ - y₁)/(x₂ - x₁)

  = (5 - -1)/(1 - -1)

  = (5 + 1)/(1 + 1)

  = 6/2 = 3

therefore the correct answer is option c.   3

the 4th choice is the correct one

step-by-step explanation: