I've been having trouble with these two questions. The first is simple interest, the second is rate. I'm sure they're easy but I can't focus on getting the solution because I'm terrible at focusing on word problems.
1) Pat invested a total of 3,000 dollars. Part of the money was invested in a money market account that paid 10% simple annual interest, and the remainder of the money was invested in a fund that paid 8% simple annual interest. If the interest earned at the end of the first year from these investments was $256, how much did Pat invest at 10% and how much at 8%?
2) Two cars started from the same point and traveled on a straight course in opposite directions for exactly 2 hours, at which time they were 208 miles apart. If one car traveled, on average, 8 miles per hour faster than the other car, what was the average speed of each car for the 2-hour trip?
Thank you
Best Answer
Hint for 1): If Pat had invested it all at $10\%$, what would it have earned? How much less is earned for each dollar invested at $8\%$ rather than $10\%$?