document.write( "Question 899353: The annual interest on a $15,000 investment exceeds the amount of interest earned by a $1000 investment by $410. The $15,000 is invested at a .4% higher rate of interest than the $1000 investment. What is the rate of interest for each investment?\r
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Algebra.Com's Answer #545310 by MathTherapy(10552) $\"\"$ $\"About$

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\n" ); document.write( "The annual interest on a $15,000 investment exceeds the amount of interest earned by a $1000 investment by $410. The $15,000 is invested at a .4% higher rate of interest than the $1000 investment. What is the rate of interest for each investment?\r
\n" ); document.write( "\n" ); document.write( "Your help is appreciated! I can't seem to figure it out!
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document.write( "Let interest rate on $15,000 investment be F
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document.write( "Since $15,000 investment's interest rate was higher than the $1,000 investment's interest rate by .4%,
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document.write( "then interest rate on $1,000 investment = F - .004
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document.write( "Therefore, interest earned on $15,000 investment = 15,000F
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document.write( "Interest earned on $1,000 investment = 1,000(F - .004), or 1,000F - 4
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document.write( "Since the interest earned on the $15,000 investment exceeds the interest earned on the $1,000 investment
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document.write( "by $410, then we can say that:
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document.write( "15,000F = 1,000F - 4 + 410
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document.write( "15,000F - 1,000F = 406 
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document.write( "14,000F = 406
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document.write( "F, or interest rate on $15,000 investment = , or , or %
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document.write( "Interest rate on $1,000 investment = 0.029 - .004, or 0.025, or %
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