document.write( "Question 1123940: In investing $6,100 of a couple's money, a financial planner put some of it into a savings account paying 4% annual simple interest. The rest was invested in a riskier mini-mall development plan paying 13% annual simple interest. The combined interest earned for the first year was $532. How much money was invested at each rate? \n" ); document.write( "

Algebra.Com's Answer #740338 by ikleyn(52803) $\"\"$ $\"About$

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document.write( "Let x = how much money was invested at 13%.\r\n" );
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document.write( "Then the amount invested at 4% is  (6100-x) dollars.\r\n" );
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document.write( "Interest from the 13% account = 0.13*x dollars.\r\n" );
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document.write( "Interest from the 4% account = 0.04*(6100-x).\r\n" );
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document.write( "Your equation is\r\n" );
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document.write( "    interest + interest      = total combined interest,    or\r\n" );
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document.write( "    0.13x    + 0.04*(6100-x) = 532    dollars.\r\n" );
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document.write( "    0.13x + 0.04*6100 - 0.04x = 532\r\n" );
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document.write( "    (0.13 - 0.04)x = 532 - 0.04*6100\r\n" );
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document.write( "    x =  = 3200.\r\n" );
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document.write( "Answer.  $3200 were invested at 13% and the rest,  6100-3200 = 2900 dollars were invested at 4%.\r\n" );
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document.write( "         Check.  0.13*3200 + 0.04*2900 = 532  dollars.    ! Correct !\r\n" );
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\n" ); document.write( "\n" ); document.write( "It is a standard and typical problem on investments.\r
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\n" ); document.write( "\n" ); document.write( "If you need more details, or if you want to see other similar problems solved by different methods, look into the lesson \r
\n" ); document.write( "\n" ); document.write( " - Using systems of equations to solve problems on investment\r
\n" ); document.write( "\n" ); document.write( "in this site.\r
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\n" ); document.write( "\n" ); document.write( "You will find there different approaches (using one equation or a system of two equations in two unknowns), as well as
\n" ); document.write( "different methods of solution to the equations (Substitution, Elimination).\r
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\n" ); document.write( "\n" ); document.write( "Also, you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( " - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
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\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic \"Systems of two linear equations in two unknowns\".\r
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\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
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\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
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