Now You Try

<p>Ramona has a total of $5000 to invest. She puts part of it in an account paying <code class='latex inline'>5\%</code>/year interest and the rest in a GIC paying <code class='latex inline'>7.2\%</code> interest. If she has $349 in simple interest at the end of the year, how much was invested at each rate?</p>

<p>Two Sisters shared a $36 500 inheritance. Teri invested her share at 9%, while Tammy obtained 8.5% interest. After one year, their' combined interest was
$3200.00. How much did each sister invest?</p>

<p>Maya inherited $50 000. She invested part of it in a Guaranteed Investment Certificate (GIC) that paid 5%/year and the rest in a venture capital that returned 10%/year. The total simple interest after 1 year was $4000. How much did she invest at each rate?</p>

<p>After a fundraiser, the treasurer for a minor soccer league invested some of the money in a savings account that paid <code class='latex inline'>2.5\%/year</code> and the rest in a government bond that paid <code class='latex inline'>3.5\%/year</code>. After one year, the money earned <code class='latex inline'>\$140</code> in interest. Define two variables, write an equation.</p>

<p>A student council invested some of the money from a fundraiser in a savings account that pays <code class='latex inline'>3\%/year</code> and the rest of the money in a government bond that pays <code class='latex inline'>4\%/year</code>. The investments earned <code class='latex inline'>\$150</code> in the first year.</p><p>a) Define two variables for the information, and write an equation.</p><p>b) Graph the information.</p>

<p>Denise invested $2000, part at 7% per annum and the rest at 8% per annum. After one year, the interest earned on the 7% investment was $50 more than the interest on the 8% investment. How much did she invest at each rate?</p>

<p>Maxim has $10 000 to invest. She invests part in a term deposit paying 5%/year, and the remainder in Canada Savings Plan paying 3.5%/year. At the end of the year, she has earned simple interest of <code class='latex inline'>\$413</code>. How much did she invest at each rate?</p>

<p>Maya inherited $50 000. She invested part of it in a Guaranteed Investment Certificate (GIC) that paid 5%/year and the rest in a venture capital that returned 10%/year. The total simple interest after 1 year was $4000. How much did she invest at each rate?</p>

<p>Vito invested $500, part at 9% per annum and the rest at 11% per annum. After one year, the interest earned on the 9% investment was $20 less than the interest on the 11% investment. How much did he invest at each rate?</p>

<p>Marko invested <code class='latex inline'>\$300 000</code> in stocks, bonds, and a savings account at the rates shown below. He invested four times as much in stocks as he invested in the savings account. After one year, he earned <code class='latex inline'>\$35 600</code> in interest.
How much money did he put into each type of investment?</p>
<ul>
<li>Stocks at 15%</li>
<li>Bonds at 10%</li>
<li>Savings Account at 4%</li>
</ul>

<p>A sum of $4200 was invested, part at 8% and the remainder at 11%. If $426.00 was earned in interest after one year, how much was invested at 11%?</p>

<p>Naomi invested <code class='latex inline'>\$1000</code>, part at <code class='latex inline'>8\%</code> per annum and the rest at <code class='latex inline'>10\%</code> per annum. In one year, the two parts earned equal amounts of interest. How much did she invest at each rate?</p>

<p>Mee Ha invested <code class='latex inline'>\$2500</code>, part at <code class='latex inline'>8\%</code> per annum, and the rest at <code class='latex inline'>12\%</code> per annum. In one year, the two parts earned equal amounts of interest. How much did she invest at each rate?</p>

<p>The girls soccer team held a fundraising car wash. They charged <code class='latex inline'>\$5</code> for each car and <code class='latex inline'>\$ 8</code> for each van. They washed <code class='latex inline'>44</code> cars and vans and collected <code class='latex inline'>\$262</code>. How many of each type of vehicle did they wash?</p>

<p>Lex invests his summer earnings of <code class='latex inline'>\$3050</code>. He invests part of the money at <code class='latex inline'>8 \%/year</code>, and the rest at <code class='latex inline'>7.5 \%/year</code>. After <code class='latex inline'>1</code> year, these investments earn <code class='latex inline'>\$242</code> in simple interest. How much did he invest at each rate?</p>

<p>Sue is starting a lawn-cutting business. Her start-up cost to buy two A lawn mowers and an edge trimmer is <code class='latex inline'>\$665</code>. She has figured out that she will use about <code class='latex inline'>\$1</code> in gas for each lawn. If she charges <code class='latex inline'>\$20</code> per lawn, what will her break-even point be?</p>

<p>Dan has saved <code class='latex inline'>\$500</code>. He wants to open a chequing account at Dominion Trust or Maple Leaf Savings. Which financial institution charges less per month if Dan uses 12 cheques a month?</p><p><strong>Dominion Trust:</strong></p>
<ul>
<li>monthly fee: <code class='latex inline'>\$10</code></li>
<li>cheque fee: <code class='latex inline'>\$0.75/cheque</code></li>
</ul>
<p><strong>Maple Leaf Savings:</strong></p>
<ul>
<li>monthly fee: <code class='latex inline'>\$7</code></li>
<li>cheque fee: <code class='latex inline'>\$1.00/cheque</code></li>
</ul>