document.write( "Question 911400: In investing $6,600 of a couple's money, a financial planner put some of it into a savings account paying 3% annual interest. The rest was invested in a riskier mini-mall development plan paying 9% annually. The combined interest earned for the first year was $426. How much money was invested at each rate? \n" ); document.write( "
Algebra.Com's Answer #553067 by richwmiller(17219)![]() ![]() You can put this solution on YOUR website! Total amount of money invested: $6600 \n" ); document.write( "x+y=6600, \n" ); document.write( "Total yearly interest for the two accounts is: $426 \n" ); document.write( "0.03*x+0.09*y=426 \n" ); document.write( "x=6600-y \n" ); document.write( "Substitute for x \n" ); document.write( "0.03*(6600-y)+0.09*y=426 \n" ); document.write( "Multiply out \n" ); document.write( "198-0.03*y+0.09*y=426 \n" ); document.write( "Combine like terms. \n" ); document.write( "0.06*y=228 \n" ); document.write( "Isolate y \n" ); document.write( "y=$ 3800.00 at 9% earns $342 interest \n" ); document.write( "x=6600-y \n" ); document.write( "Calculate x \n" ); document.write( "x=$ 2800.00 at 3% earns $84 interest \n" ); document.write( "Check \n" ); document.write( "0.03*2800+0.09*3800=426 \n" ); document.write( "84+342=426 \n" ); document.write( "426=426 \n" ); document.write( "If this statement is TRUE and neither x nor y is negative then all is well \n" ); document.write( "code int1\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |