document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=85762>Question 85762</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A client of the ABC investment company wanted to invest $20,000. She was advised to invest in a mutual bond that earns 3.5% annual simple interest and a stock fund that earns 9.3% annual simple interest. How much should be invested in each account so that both accounts earn the same annual interest?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #61958 by </B><A HREF=/tutors/aboutme.mpl?userid=Nate><B>Nate(3500)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Nate><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=61958\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I = PRT<BR>\n" );
document.write( "Interest Yields Principle * Rate * Time<BR>\n" );
document.write( "mutual bond: I = 0.035*P*T<BR>\n" );
document.write( "stock fund: I = 0.093*P*T<BR>\n" );
document.write( "The interests are the same:<BR>\n" );
document.write( "0.035*P*T = 0.093*P*T<BR>\n" );
document.write( "0.035*P = 0.093*P<BR>\n" );
document.write( "~> set m = amount in mutual bonds ~> set 20,000 - m = amount in stock fund<BR>\n" );
document.write( "0.035(m) = 0.093(20,000 - m)<BR>\n" );
document.write( "0.035m = 1,860 - 0.093m<BR>\n" );
document.write( "0.128m = 1,860<BR>\n" );
document.write( "m = 14,531.25<BR>\n" );
document.write( "20,000 = 5,468.75<BR>\n" );
document.write( "Mutual Bonds: $14,531.25<BR>\n" );
document.write( "Stock Funds: $5,468.75 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );