document.write( "Question 550654: My problem is Bill won $200,000 in a state lottery. He first paid income tax of 30% on the winnings. Of the rest, he invested some at 8.5% and some at 7%, making $10,700 interest per year. How much was invested at each rate?\r
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document.write( "So far I have taken out the income tax which was 60,000 and have 140,000 left. Then i get stuck on trying to set up the equation.
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document.write( "I think its .085x + .07y = 10,700 but im not sure what to do... \n" );
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Algebra.Com's Answer #358951 by jim_thompson5910(35256)![]() ![]() ![]() You can put this solution on YOUR website! That's one equation. Another equation is x+y=14000 (basically add up the two amounts originally invested to get $140,000 again). Now solve this system by substitution or elimination to find your answer. \n" ); document.write( " |