SOLUTION: I have no idea where to start on this word problem: COPORATE INVESTMENTS: The financial board of a corporation invested $25,000 overseas, part at 4% and part at 7% annual inter

Algebra.Com
Question 367143: I have no idea where to start on this word problem:
COPORATE INVESTMENTS: The financial board of a corporation invested $25,000 overseas, part at 4% and part at 7% annual interest. Find the amount invested at each rate if the first year combined income from the two investments was $1,300.

Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!

Hi,
Start all word problems like these by assigning a variable
for ex: Let x represent the amount invested at 7%,
then ($25,000 - x) would the smount invested at 4%
question states:
.04($25,000-x) + .07x = $1300
.03x + $1000 = $1300
.03x = $300
x = $10,000, amount invested at 7%. $15,000 invested at 4% ($25,000-$10,000)
checking our answer
.04*$15,000 + .07*$10,000 = $600 + $700 = $1300
RELATED QUESTIONS

I know that I=prt but I have no idea where to start with this word problem. If $2000 is... (answered by josmiceli)
I have no idea where to start on this problem. PLease help. 7x/8-4=x (answered by midwood_trail)
I have no idea on how to start this problem:... (answered by lyra)
Plese help me solve this equation: Write an equation of a line that passes through (2,-3) (answered by richwmiller)
x-3/x^2-x-12 this is on a study guide of mine labeled partial functions and I have no... (answered by fractalier)
The financial board of a corporation invested $25,000 overseas, part at 4% and part at 7% (answered by RAY100)
corporate investments The financial board of a corporation invested $25000 overseas, part (answered by Theo,mananth)
The financial board of a corporation invested $30,000 overseas, part at 7% and part at 8% (answered by richwmiller)
This problem is form an Algebra 2 workbook. How does one solve for x with a given... (answered by stanbon)