document.write( "Question 178572: John invested $11000, a portion earning a simple interest rate of 4.5% per year and the rest earning a simple intrest rate of 4% per year. After one year the total value of John's investment is $11445.50.
\n" ); document.write( "How much did John invest at 4.5% interest rate? And how much did John invest at 4% interest rate?
\n" ); document.write( "HINT: the total value of John's investment includes both the amount he invested and the interest he earned. \n" ); document.write( "

Algebra.Com's Answer #133530 by stanbon(75887) $\"\"$ $\"About$

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John invested $11000, a portion earning a simple interest rate of 4.5% per year and the rest earning a simple intrest rate of 4% per year. After one year the total value of John's investment is $11445.50.
\n" ); document.write( "How much did John invest at 4.5% interest rate? And how much did John invest at 4% interest rate?
\n" ); document.write( "--------------------
\n" ); document.write( "Equation:
\n" ); document.write( "interest + interest = interest
\n" ); document.write( "0.045x + 0.04(11000-x) = 445.50
\n" ); document.write( "Multiply thru by 1000 to get:
\n" ); document.write( "45x + 40*11000 - 40x = 445500
\n" ); document.write( "5x = 5500
\n" ); document.write( "x = $1100 (amt invested at 4.5%)
\n" ); document.write( "11000 - 1100 = $9900 (amt. invested at 4%
\n" ); document.write( "============================================
\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
\n" ); document.write( " \n" ); document.write( "

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