document.write( "Question 414941: Mr. Rich invested $14,000, part at 8% and the rest at 6%. If the annual incomes from both investments were equal, find the amount he invested at each rate. \n" ); document.write( "

Algebra.Com's Answer #291224 by ankor@dixie-net.com(22740) $\"\"$ $\"About$

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Mr. Rich invested $14,000, part at 8% and the rest at 6%.
\n" ); document.write( " If the annual incomes from both investments were equal, find the amount he invested at each rate.
\n" ); document.write( ":
\n" ); document.write( "Let x = amt invested at 8%
\n" ); document.write( "the given total is 14000, therefore:
\n" ); document.write( "(14000-x) = amt invested at 6%
\n" ); document.write( ":
\n" ); document.write( "Interest earned at 8%: .08x
\n" ); document.write( "interest earned at 6%: .06(14000-x)
\n" ); document.write( ":
\n" ); document.write( "It says the interest amts are equal, therefore:
\n" ); document.write( ".08x = .06(14000-x)
\n" ); document.write( ".08x = 840 - .06x
\n" ); document.write( ".08x + .06x = 840
\n" ); document.write( ".14x = 840
\n" ); document.write( "x = $\"840%2F.14\"$
\n" ); document.write( "x = $6000 invested at 8%
\n" ); document.write( "and
\n" ); document.write( "14000 - 6000 = $8000 invested at 6%
\n" ); document.write( ":
\n" ); document.write( ":
\n" ); document.write( "Confirm this solution by finding the actual interest earned by each:
\n" ); document.write( ".08 * 6000 = 480
\n" ); document.write( ".06 * 8000 = 480 \n" ); document.write( "

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