document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=336943>Question 336943</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An insurance agent receives a 12% fee on each new policy payment and a 3% fee on each renewal payment. If the agent received $1350 fee on total payments of $26250, how much were the payments for new policies and renewal payments? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #241518 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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/cgi-bin/show-face.mpl?user=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=241518\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let $ x be the new policies<BR>\n" );
document.write( "$26250 -x will be the renewals.<BR>\n" );
document.write( "..<BR>\n" );
document.write( "12% on new<BR>\n" );
document.write( "3 % on renewal.<BR>\n" );
document.write( "Amount received = $1350<BR>\n" );
document.write( "..<BR>\n" );
document.write( "0.12x+0.03(26250-x)= 1350<BR>\n" );
document.write( "0.12x+787.5-0.03x = 1350<BR>\n" );
document.write( "0.09x = 1350-787.5<BR>\n" );
document.write( "0.09x = 562.5<BR>\n" );
document.write( "divide by 0.09<BR>\n" );
document.write( "x= $6,250 new policies<BR>\n" );
document.write( "renewals will be 26250-6250=20,000 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );