document.write( "Question 904904: Willard invests a part of 50 000 pesos in a bank paying 12% interest annually and the rest in a loan association paying 15% interest annually. If his total income from the two investments for one year is 6, 540, how much does he invest at each rate? \n" ); document.write( "

Algebra.Com's Answer #549089 by richwmiller(17219) $\"\"$ $\"About$

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Total amount of money invested: $50000
\n" ); document.write( "x+y=50000,
\n" ); document.write( "Total yearly interest for the two accounts is: $6540
\n" ); document.write( "0.12*x+0.15*y=6540
\n" ); document.write( "x=50000-y
\n" ); document.write( "Substitute for x
\n" ); document.write( "0.12*(50000-y)+0.15*y=6540
\n" ); document.write( "Multiply out
\n" ); document.write( "6000-0.12y+0.15*y=6540
\n" ); document.write( "Combine like terms.
\n" ); document.write( "0.03*y=540
\n" ); document.write( "Isolate y
\n" ); document.write( "y=$18000.00 at 15%
\n" ); document.write( "x=50000-y
\n" ); document.write( "Calculate x
\n" ); document.write( "x=$32000.00 at 12%
\n" ); document.write( "Check
\n" ); document.write( "0.12*32000+0.15*18000=6540
\n" ); document.write( "3840+2700=6540
\n" ); document.write( "6540=6540
\n" ); document.write( "If this statement is TRUE and neither amount is negative then all is well
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