Just to clarify: You're being asked to work out x and y, where x is the amount Suzy invested and y is her interest rate? I'd probably plug in the known values before rearranging the equations, but basically you're right - three unknowns into two equations doesn't go. How is the question phrased? Is it possible they meant to imply the interest is over a single fixed period? if it doesn't say at all, I'd either assume T=1 (so I=PR) or give a solution for x and y in terms of T.
I don't have the question on hand anymore because I just turned in the assignment, but that was all the information they gave us.
I think the question asked for the lowest amount John could have invested and the highest amount he could have invested. So maybe we were just suppose to find a bound? I really don't know. I did it with assuming T=1 though and just gave one answer.
Comments 2
I'd probably plug in the known values before rearranging the equations, but basically you're right - three unknowns into two equations doesn't go.
How is the question phrased? Is it possible they meant to imply the interest is over a single fixed period? if it doesn't say at all, I'd either assume T=1 (so I=PR) or give a solution for x and y in terms of T.
Reply
I think the question asked for the lowest amount John could have invested and the highest amount he could have invested. So maybe we were just suppose to find a bound? I really don't know. I did it with assuming T=1 though and just gave one answer.
Reply
Leave a comment