document.write( "Question 1125428: You wish to invest $1600 over one year in two accounts paying 5% and 6% annually. How much should you invest in each to earn $89? \n" ); document.write( "
Algebra.Com's Answer #741759 by greenestamps(13200)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "The algebraic solution method for this kind of problem is fine. \n" ); document.write( "But if you are working a lot of these problems, here is a method that will get you to the answer faster and with much less work. (I am good at mental arithmetic; solving this problem takes me about 5 seconds by this method.) \n" ); document.write( "(1) The interest at 5% would be $80; the interest at 6% would be $96. \n" ); document.write( "(2) Since $89 is 9/16 of the way from $80 to $96, 9/16 of the money should be invested at the higher rate. \n" ); document.write( "(3) 9/16 of $1600 is $900. \n" ); document.write( "ANSWER: $900 at 6%; $700 at 5%. \n" ); document.write( " |