document.write( "Question 803336: Bob invests in two different retirement funds. He invests some money in a fund with 3% interest and twice as much money in another fund at 4.5% interest. Find the amount deposited at each rate if the total annual interest income is $3,000.\r
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document.write( "This is what I have so far but I am stuck....
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document.write( "X amount of $ 3% interest; twice as much money at 4.5% interest.
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document.write( "Find out amount at each rate if interest income=$3000
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document.write( "X= # of $ invested at 3%
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document.write( "Y= # of $ invested at 4.5%
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document.write( "Interest=% times $ invested
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document.write( "X+y=$3,000
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document.write( "3%x+4.5%y=$3,000
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Algebra.Com's Answer #484291 by mananth(16946)![]() ![]() You can put this solution on YOUR website! Bob invests in two different retirement funds. He invests some money in a fund with 3% interest and twice as much money in another fund at 4.5% interest. Find the amount deposited at each rate if the total annual interest income is $3,000.\r \n" ); document.write( "\n" ); document.write( "This is what I have so far but I am stuck.... \n" ); document.write( "X amount of $ 3% interest; twice as much money at 4.5% interest. \n" ); document.write( "Find out amount at each rate if interest income=$3000 \n" ); document.write( "X= # of $ invested at 3% \n" ); document.write( "Y= # of $ invested at 4.5% \n" ); document.write( "Interest=% times $ invested \n" ); document.write( "X+y=$3,000 \n" ); document.write( "3%x+4.5%y=$3,000\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "your second equation is right. \n" ); document.write( "but first is not OK\r \n" ); document.write( "\n" ); document.write( "sum invested is not $3000 . It is the interest\r \n" ); document.write( "\n" ); document.write( "2x=y\r \n" ); document.write( "\n" ); document.write( "3%x+4.5%y=$3,000 \n" ); document.write( "multiply by 100\r \n" ); document.write( "\n" ); document.write( "3x+4.5y=300000\r \n" ); document.write( "\n" ); document.write( "substitute y=2x\r \n" ); document.write( "\n" ); document.write( "3x+4.5*2*x =3000000\r \n" ); document.write( "\n" ); document.write( "12x=300000 \n" ); document.write( "/12 \n" ); document.write( "x=25000\r \n" ); document.write( "\n" ); document.write( "He invested $25,000at 3 % and 50,000at 4.5%\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |