document.write( "Question 907524: you invested $25,000 in two accounts paying 7% and 9% annual interest,respectively. If the total interest earned for the year was $1770 how much was invested at each rate? \n" ); document.write( "
Algebra.Com's Answer #550431 by richwmiller(17219)![]() ![]() You can put this solution on YOUR website! Total amount of money invested: $25000 \n" ); document.write( "x+y=25000, \n" ); document.write( "Total yearly interest for the two accounts is: $1770 \n" ); document.write( "0.07*x+0.09*y=1770 \n" ); document.write( "x=25000-y \n" ); document.write( "Substitute for x \n" ); document.write( "0.07*(25000-y)+0.09*y=1770 \n" ); document.write( "Multiply out \n" ); document.write( "1750-0.07y+0.09*y=1770 \n" ); document.write( "Combine like terms. \n" ); document.write( "0.02*y=20 \n" ); document.write( "Isolate y \n" ); document.write( "y=$ 1000.00 at 9% \n" ); document.write( "x=25000-y \n" ); document.write( "Calculate x \n" ); document.write( "x=$24000.00 at 7% \n" ); document.write( "Check \n" ); document.write( "0.07*24000+0.09*1000=1770 \n" ); document.write( "1680+90=1770 \n" ); document.write( "1770=1770 \n" ); document.write( "If this statement is TRUE and neither x nor y is negative then all is well \n" ); document.write( " \n" ); document.write( " |