document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=992431>Question 992431</A>: <I><SPAN STYLE=\"word-break: break-all;\"> write an equation and solve\r<BR>\n" );
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document.write( "An investor has $7500 invested at one rate and $6200 invested at a different rate. If the second investment is at a rate 2% lower than the first, find the rate for each investment if his combined annual interest income is $698.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #612091 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=612091\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> rate is equal to percent / 100.<BR>\n" );
document.write( "2% is therefore equal to a rate of .02.\r<BR>\n" );
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document.write( "x is the rate that 7500 is invested at.<BR>\n" );
document.write( "x - .02 is the rate that 6200 is invested at.\r<BR>\n" );
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document.write( "your equation is:\r<BR>\n" );
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document.write( "7500 * x + 6200 * (x-.02) = 698\r<BR>\n" );
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document.write( "simplify to get:\r<BR>\n" );
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document.write( "7500 * x + 6200 * x - .02 * 6200 = 698\r<BR>\n" );
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document.write( "simplify further to get:\r<BR>\n" );
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document.write( "(7500 + 6200) * x - 124 = 698\r<BR>\n" );
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document.write( "subtract 124 from both sides of the equation and simplify further to get:\r<BR>\n" );
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document.write( "13700 * x = 822.\r<BR>\n" );
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document.write( "divide both sides of the equation by 13700 to get:\r<BR>\n" );
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document.write( "x = 822 / 13700 = .06\r<BR>\n" );
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document.write( "x - .02 = .06 - .02 = .04\r<BR>\n" );
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document.write( "7500 was invested at 6% and 6200 was invested at 4%.\r<BR>\n" );
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document.write( "7500 * .06 + 6200 * .04 = 450 + 248 = 698.\r<BR>\n" );
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document.write( "your solution is that the rate for 7500 is 6% and the rate for 6200 is 4%.\r<BR>\n" );
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