document.write( "Question 911728: You have already invested $550 in a stock with an annual return of 11%. How much of an additional $1,600 should be invested at 12% and how much at 6% so that the total return on the entire $2,150 is 9%? (Round each answer to the nearest cent.) \n" ); document.write( "
Algebra.Com's Answer #553299 by richwmiller(17219)![]() ![]() You can put this solution on YOUR website! z+x+y=2150 \n" ); document.write( ".11*550+0.06*x+0.012*y=.09*2150 \n" ); document.write( "60.50+0.06*x+0.012*y=193.50\r \n" ); document.write( "\n" ); document.write( "2150-550=1600 \n" ); document.write( "193.50-60.50=133 \n" ); document.write( "Now we have two equations in two unknowns \n" ); document.write( "x+y=1600 \n" ); document.write( "0.06*x+0.012*y=133 \n" ); document.write( "Total amount of money invested: $1600 \n" ); document.write( "x+y=1600, \n" ); document.write( "Total yearly interest for the two accounts is: $133 \n" ); document.write( "0.06*x+0.12*y=133 \n" ); document.write( "x=1600-y \n" ); document.write( "Substitute for x \n" ); document.write( "0.06*(1600-y)+0.12*y=133 \n" ); document.write( "Multiply out \n" ); document.write( "96-0.06*y+0.12*y=133 \n" ); document.write( "Combine like terms. \n" ); document.write( "0.06*y=37 \n" ); document.write( "Isolate y \n" ); document.write( "y=$ 616.67 at 12% earns $74.00 interest \n" ); document.write( "x=1600-y \n" ); document.write( "Calculate x \n" ); document.write( "x=$ 983.33 at 6% earns $59.00 interest \n" ); document.write( "Check \n" ); document.write( "0.06*983.333333+0.12*616.666667=133 \n" ); document.write( "59.0+74.0=133 \n" ); document.write( "133.0=133 \n" ); document.write( "If this statement is TRUE and neither x nor y is negative then all is well \n" ); document.write( "codeint1+ \n" ); document.write( " \n" ); document.write( " |