document.write( "Question 28285: Melanie invested $5000 for 18 months, part at a rate of 12% annual interest and the rest at a rate of 9% annual interest. The interest from the investment at 12% was $348.75 more than the interest from the investment at 9%. How much money did she invest at each rate? (Interest formula: Interest=principal x rate x time [expressed in years]) All steps in the solution must be shown and each step must be accompanied by a verbal/written explanation to justify your work and/or explain your reasoning.\r
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document.write( "No idea where to start let alone write an explanation. \n" );
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Algebra.Com's Answer #15397 by josmiceli(19441) You can put this solution on YOUR website! After you've done enough of these interest and other types of word problems \n" ); document.write( "you get a sense of where to start. \n" ); document.write( "As soon as I saw that they're doing 2 different things with $5000 what popped \n" ); document.write( "into my head was x and 5000 - x \n" ); document.write( "This is a great way to divide 5000 in two, the sum adds up to 5000 as it should \n" ); document.write( "and your unknown is neatly tucked into each part. Very useful \n" ); document.write( "What do you do with it? \n" ); document.write( "Let x be the amount invested at 12% \n" ); document.write( "So the rest of the $5000, namely 5000 - x, is invested at 9% \n" ); document.write( "Following the problem, \n" ); document.write( " \n" ); document.write( "Solve for x \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "I get \n" ); document.write( "x = 3803.60 \n" ); document.write( "and \n" ); document.write( "5000 - x = 1196.40 \n" ); document.write( "Those would be the amounts invested at 12% and 9% \n" ); document.write( "checking \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "Unless I goofed that's it \n" ); document.write( " |