document.write( "Question 34269: An investment consultant has deposited $5000 of a clients money into a 10% simple interes account. How much should be deposited into an 18% annual simple interest account so that the effective annual interest rate on both deposits is 14% \n" ); document.write( "
Algebra.Com's Answer #20566 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! Let the amount invested at 18% be \"x\". \n" ); document.write( "EQUATION: \n" ); document.write( "interest + interext = interest \n" ); document.write( "0.10(5000) + 0.18x =0.14(5000+x) \n" ); document.write( "Multiply thru by 100 to get: \n" ); document.write( "10(5000)+18x = 14(5000+x) \n" ); document.write( "50000 + 18x = 70000+14x \n" ); document.write( "4x=20000 \n" ); document.write( "x=$5000.00 (amount invested at 18%) \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( " |