document.write( "Question 389318: Linda won $200,000 in a state lottery. She first paid income tax of 30% on the winnings. Of the rest she invested some at 1.5% and some at 4% earning $4350 interest per year. How much did she invest at each rate? \n" ); document.write( "
Algebra.Com's Answer #275852 by mananth(16946)![]() ![]() You can put this solution on YOUR website! Linda won $200,000 in a state lottery. She first paid income tax of 30% on the winnings. Of the rest she invested some at 1.5% and some at 4% earning $4350 interest per year. How much did she invest at each rate? \n" ); document.write( "... \n" ); document.write( "30% 0f $200,000 = $60,000 \n" ); document.write( "... \n" ); document.write( "$200,000-$60,000 = $140,000 \n" ); document.write( "... \n" ); document.write( "@1.5%--------------------- $x \n" ); document.write( "@4%-----------------------(140,000-x) \n" ); document.write( ".. \n" ); document.write( "Interest earned = $4,350 \n" ); document.write( "... \n" ); document.write( "1.5x+4(150,000-x)=4350*100 \n" ); document.write( "1.5x+600,000-4x=435,000 \n" ); document.write( "1.5x-4x=435,000-600,000 \n" ); document.write( "-2.5x=-165,000 \n" ); document.write( "/-2.5 \n" ); document.write( "x=66000 \n" ); document.write( "$ 66,000 @ 1.5% \n" ); document.write( "Balance $ 74,000 @ 4% \n" ); document.write( "... \n" ); document.write( "m.ananth@hotmail.ca \n" ); document.write( " |