Investing and Solving Equations

The video tutorial explains how Jolene invests her savings in two bank accounts with different interest rates. She invests twice as much in the lower-yielding account. The tutorial demonstrates solving this problem using a system of equations, defining variables, setting up equations, and using the substitution method to find the solution. The solution is verified by graphing the equations.

What are the interest rates for Jolene's two bank accounts?

• 5% and 10%

• 3% and 5%

• 3% and 8%

• 5% and 8%

Why does Jolene invest twice as much in the lower yielding account?

• It has a longer term.

• It is less risky.

• It is more convenient.

• It offers higher returns.

What is the first equation derived from the problem?

• X = Y

• X = 2Y

• Y = 2X

• X + Y = 526

What is the second equation used in the system?

• X + Y = 526

• 0.03Y + 0.08X = 526

• 0.03X + 0.08Y = 526

• 0.08X + 0.03Y = 526

What method is used to solve the system of equations?

• Substitution

• Elimination

• Graphing

• Trial and Error

What is the approximate amount invested at 8% interest?

• $4,000

• $5,000

• $3,757.14

• $3,000

How is the amount invested at 3% calculated?

• By halving the 8% investment

• By adding $526 to the 8% investment

• By doubling the 8% investment

• By subtracting the 8% investment from $526

What is the approximate amount invested at 3% interest?

• $9,000

• $7,000

• $7,514.28

• $8,000

How can the solution be verified?

• By recalculating manually

• By graphing the equations

• By consulting a financial advisor

• By checking the bank statement

What is the main application of this type of problem?

• To calculate taxes

• To manage daily expenses

• To understand systems of equations

• To plan retirement