LESSON 7 – WORD PROBLEMS (BASIC, INVESTMENT) 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐸𝑎𝑟𝑛𝑒𝑑 (𝑂𝑛𝑒 𝑌𝑒𝑎𝑟) = 𝐴𝑚𝑜𝑢𝑛𝑡 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑑 × 𝑅𝑎𝑡𝑒 𝑜𝑓 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 Example ① Mara saved $1400 working last summer. She invested some of the money in a term deposit that paid 5.5% per annum and the remainder in a savings account that paid only 2% per annum. If the total interest earned after one year was $56, determine the amount of money Mara invested at each rate. Example ② Mrs. Peleck has a change jar at home filled with 256 coins split between dimes and quarters. She has a total of $45.85. How many of the coins are dimes?