document.write( "Question 70101: Please solve the following word problem:\r
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document.write( "Bob invested $20,000, part at 14% and part at 13%. If the total interest at the end of the year is $2,720, how much did he invest at 14%? \n" );
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Algebra.Com's Answer #49979 by bucky(2189)![]() ![]() ![]() You can put this solution on YOUR website! Bob invested $20,000, part at 14% and part at 13%. If the total interest at the end of \n" ); document.write( "the year is $2,720, how much did he invest at 14%?\r \n" ); document.write( "\n" ); document.write( "It takes two equations to solve this equation. But before beginning, let's define F as the \n" ); document.write( "amount of money invested at 14% and T as the amount invested at 13%. \n" ); document.write( ". \n" ); document.write( "Since the total amount of money invested is $20,000 we can add F and T and set that sum \n" ); document.write( "equal to the $20,000. In equation form this first one of two our equations becomes: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "The problem tells you the interest Bob makes on the amount F is 14% of F. You can write \n" ); document.write( "this as: \n" ); document.write( ". \n" ); document.write( "Interest on F = 0.14*F \n" ); document.write( ". \n" ); document.write( "Similarly the interest Bob makes on the amount T is 13% of T. You can write this as: \n" ); document.write( ". \n" ); document.write( "Interest on T = 0.13*T. \n" ); document.write( ". \n" ); document.write( "These two amounts of interest have to add up to be the total annual interest of $2,720 \n" ); document.write( "In equation form this becomes: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "This is the second of the equations that you can use to solve this problem.\r \n" ); document.write( "\n" ); document.write( "There are several ways that you could solve this system of two equations. Let's use the \n" ); document.write( "substitution method. Return to the first equation and see that it can be solved for F \n" ); document.write( "by subtracting T from both sides. If you do that subtraction you get: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "Now substitute that value for F into your second equation to get: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "Multiplying out the first term on the left side results in: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "Add the two terms containing T. That sum is -0.01T and it replaces the two terms, \n" ); document.write( "resulting in the equation: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "Now subtract 2800 from both sides to eliminate the 2800 on the left side. When you subtract \n" ); document.write( "it from the right side (2720 - 2800) the result is -80. Therefore, the equation is reduced to: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "Multiply both sides by -1 to eliminate the negative signs and get: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "Finally divide both sides by 0.01 (or you can multiply both sides by 100 also) and the \n" ); document.write( "equation becomes: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "Since you now know that T = $8,000 and the total amount invested is $20,000 you also know \n" ); document.write( "that the amount invested at 14% (F) has to be $12,000. So the answer you were looking for \n" ); document.write( "is $12,000.\r \n" ); document.write( "\n" ); document.write( "Let's check it:\r \n" ); document.write( "\n" ); document.write( "Do F and T add up to be $20,000? \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "That works. Then does 14% of F and 13% of T add up to be $2720? \n" ); document.write( ". \n" ); document.write( "0.14*(12000) + 0.13(8000) = 2720}}} \n" ); document.write( ". \n" ); document.write( "Do the multiplications on the left side: \n" ); document.write( ". \n" ); document.write( " \n" ); document.write( ". \n" ); document.write( "The left side does add up to equal the right side, so this works also. The problem is \n" ); document.write( "correct and you know that the answer of $12,000 is correct for the amount invested \n" ); document.write( "at 14%. \n" ); document.write( ". \n" ); document.write( "Hope that this helps you understand the problem a little better, and aids you in figuring \n" ); document.write( "out when you are given two different limits on the problem (in this case the limits of \n" ); document.write( "the total amount of interest and the total amount invested) that you are likely going to \n" ); document.write( "need to solve two equations to get the answer. \n" ); document.write( " |