document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=308911>Question 308911</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Not exactly sure where this type of equation fits in but I am in need of obtaining assistance.<BR>\n" );
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document.write( "A college student invested part of a $25,000 inheritance at 7% interest and the rest at 6%. If his annual interest is $1,671 how much did he invest at 6%? If the answer is $8,000, explain how you would solve the problem </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #220887 by </B><A HREF=/tutors/aboutme.mpl?userid=Earlsdon><B>Earlsdon(6294)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Earlsdon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=220887\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Well, the answer is not $8,000 but I will explain how I would solve this problem anyway.<BR>\n" );
document.write( "First, I would compute the amount of interest earned on each of the two amounts, $x (invested at 6% per annum) and $(25,000-x) (invested at 7% per annum).<BR>\n" );
document.write( "Then I would add these two amounts and set the sum equal the annual interest earned ($1,671.00).<BR>\n" );
document.write( "Finally, I would solve for x, the amount invested at 6%.<BR>\n" );
document.write( "Here are the algebraic steps:<BR>\n" );
document.write( "Change the percentages to their decimal equivalents. (6% = 0.06) and (7% = 0.07).<BR>\n" );
document.write( "0.06x+0.07(25000-x) = 1671 Simplify and solve for x.<BR>\n" );
document.write( "0.06x+1750-0.07x = 1671 Combine the like-terms.<BR>\n" );
document.write( "-0.01+1750 = 1671 Subtract 1750 from both sides.<BR>\n" );
document.write( "-0.01x = -79 Finally, divide both sides by -0.01<BR>\n" );
document.write( "x = 7900<BR>\n" );
document.write( "$7,900 was invested at 6% per annum.<BR>\n" );
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