Sep 06, 2012 14:59
John invests 2500 more than Suzy at a 2% higher interest rate than Suzy. John earns $700 in interest while Suzy earns $300.
I'll rearrange the formula:
I = PRT
Now is
T = I/(PR)
John's formula:
T = 700/[(2500+x)*(y+.02)]
Suzy's Formula
T = 300/(xy)
Now... I have 2 equations and 3 unknowns (I don't know P, R, OR T)
But I can set John's T = Suzy's T
700/[(2500+x)*(y+.02)] = 300/(xy)
But how do I find my last equation to help me solve for x and y?