document.write( "Question 1011653: A financial planner recommended that part of the client’s 600000 Pesos cash account be invested in preferred stock earning 9% annual simple interest. The remainder of the client’s cash was placed in Treasury bong earning 7% annual simple interest. The total annual interest earned from two investments was 51000 Pesos. Find the amount invested at each rate. \n" ); document.write( "

Algebra.Com's Answer #627388 by stanbon(75887) $\"\"$ $\"About$

You can put this solution on YOUR website!
A financial planner recommended that part of the client’s 600000 Pesos cash account be invested in preferred stock earning 9% annual simple interest. The remainder of the client’s cash was placed in Treasury bong earning 7% annual simple interest. The total annual interest earned from two investments was 51000 Pesos. Find the amount invested at each rate.
\n" ); document.write( "-------
\n" ); document.write( "p + t = 600000
\n" ); document.write( "9p + 7t = 5100000
\n" ); document.write( "-----------------------
\n" ); document.write( "Modify for elimination.
\n" ); document.write( "9p + 9t = 5400000
\n" ); document.write( "9p + 7t = 5100000
\n" ); document.write( "-------------------------
\n" ); document.write( "2t = 300000
\n" ); document.write( "t = $150,000
\n" ); document.write( "---
\n" ); document.write( "p = $450,000
\n" ); document.write( "-------------
\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
\n" ); document.write( "---------- \n" ); document.write( "

\n" );