document.write( "Question 467648: Hello Tutors\r
\n" ); document.write( "\n" ); document.write( "I am having difficulties solving a problem that involves simple interest. The problem is posted below.\r
\n" ); document.write( "\n" ); document.write( "Dan invested some money at 3% and $4000 less than that amount at 5%. The two investment produced a total of $200 interest in 1 yr. How much was invested at each rate?\r
\n" ); document.write( "\n" ); document.write( "Initially, I try to solve the problem by creating an equation listed below.\r
\n" ); document.write( "\n" ); document.write( "I=P*R*T\r
\n" ); document.write( "\n" ); document.write( "Prinicipal equals X
\n" ); document.write( "rate=0.03
\n" ); document.write( "Time=1
\n" ); document.write( " 200= 0.03x *1 <----(Is this correct?)\r
\n" ); document.write( "\n" ); document.write( "I also try to solve it in this manner as well.\r
\n" ); document.write( "\n" ); document.write( "(.03*x)+ .05(x-4000)= 200 <-----(Is this correct?)\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #320888 by jorel1380(3719) $\"\"$ $\"About$

You can put this solution on YOUR website!
.03(m)+.05(m-4000)=200
\n" ); document.write( ".03m+.05m-200=200
\n" ); document.write( ".08m=400
\n" ); document.write( "m=400/.08=5000
\n" ); document.write( "Dan invested $5000 at 3% and $1000 at 5%.. \n" ); document.write( "

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