document.write( "Question 911082: A man invests a portion of $3,600 at 8% annual interest at balance at 7%. If he receives $264 interest during the first year, how much did he invest at each rate? \n" ); document.write( "

Algebra.Com's Answer #552837 by richwmiller(17219) $\"\"$ $\"About$

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Total amount of money invested: $3600
\n" ); document.write( "x+y=3600,
\n" ); document.write( "Total yearly interest for the two accounts is: $264
\n" ); document.write( "0.08*x+0.07*y=264
\n" ); document.write( "x=3600-y
\n" ); document.write( "Substitute for x
\n" ); document.write( "0.08*(3600-y)+0.07*y=264
\n" ); document.write( "Multiply out
\n" ); document.write( "288-0.08*y+0.07*y=264
\n" ); document.write( "Combine like terms.
\n" ); document.write( "-0.01*y=-24
\n" ); document.write( "Isolate y
\n" ); document.write( "y=$ 2400.00 at 7%
\n" ); document.write( "x=3600-y
\n" ); document.write( "Calculate x
\n" ); document.write( "x=$ 1200.00 at 8%
\n" ); document.write( "Check
\n" ); document.write( "0.08*1200+0.07*2400=264
\n" ); document.write( "96+168=264
\n" ); document.write( "264=264
\n" ); document.write( "If this statement is TRUE and neither x nor y is negative then all is well
\n" ); document.write( "code int1
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