Imogene invested $8,000 in a bank account that pays 8 percent simple interest at the end of each year. Her friend invested the same amount in stocks where the growth of the investment is represented as 2,000 times the square root of 2 less than the time lapsed in years. If y1 and y2 represent the amount earned in dollars and t is the time lapsed in years, which system of equations correctly represents the situation

Question

Mathematics

Amirah Kim

22 September, 22:37

Imogene invested $8,000 in a bank account that pays 8 percent simple interest at the end of each year. Her friend invested the same amount in stocks where the growth of the investment is represented as 2,000 times the square root of 2 less than the time lapsed in years. If y1 and y2 represent the amount earned in dollars and t is the time lapsed in years, which system of equations correctly represents the situation

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Mckenna Lee · Answer 1

The right system of equations to describe the situation would be on the form:

x1 = 8000 + y1*t

and

x2 = 8000 + y2*t

where x1 and x2 represents the total money of Imogene and her friend respectively at the end of t years.

Now for the value of amount earned, y1 and y2:

y1=8000*0.08

y2=2000*√ (t-2)