document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=61652>Question 61652</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Michael wants to receive a total of $760 on his investment.  He wants to invest part of his $8,000 in a bond that pays 12% annual interest and the rest in a savings account that pays 8%.  How much should he invest at each rate?\r<BR>\n" );
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document.write( "Thanks for any help you can provide - I'm stuck! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #42433 by </B><A HREF=/tutors/aboutme.mpl?userid=Earlsdon><B>Earlsdon(6294)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Earlsdon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=42433\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let x = the amount invested at 12%, then (8000-x) = the amount invested at 8%<BR>\n" );
document.write( "and the interest earned on this is to be $760.00  You can write the equation for this as follows:\r<BR>\n" );
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document.write( "(12%)x + (8%)($8000-x) = $760 Simplfy and solve for x. Change the percentages to decimals.<BR>\n" );
document.write( "0.12x + 0.08($8000-x) = $760<BR>\n" );
document.write( "0.12x + $640 - 0.08x = $760<BR>\n" );
document.write( "0.04x + $640 = $760<BR>\n" );
document.write( "0.04x = $120<BR>\n" );
document.write( "x = $3,000 This is the amount Michael should invest at 12%<BR>\n" );
document.write( "$8,000-x = $5,000 This is the amount Michael should invest at 8% </SPAN>\n" );
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