document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=102271>Question 102271</A>: <I><SPAN STYLE=\"word-break: break-all;\">  A broker has invested $17,500 in two mutual funds, one earning 10% annual interest, and the other earning 12%. After 1 year, his combined interest is $1,941. how much was invested at each rate? Fill up the given table, set up and equation and solve.<BR>\n" );
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document.write( "Mutual fund 1			<BR>\n" );
document.write( "Mutual fund 2			<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #74321 by </B><A HREF=/tutors/aboutme.mpl?userid=ptaylor><B>ptaylor(2198)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ptaylor><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=ptaylor><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=74321\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Interest(I)=Principal(P) times Rate(R) times Time(T) or I=PRT\r<BR>\n" );
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document.write( "Let P=amount invested at 12%<BR>\n" );
document.write( "(1)  Interest earned at 12%=P*0.12*1=0.12P\r<BR>\n" );
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document.write( "Then (17,500-P)=amount invested at 10%<BR>\n" );
document.write( "(2)  Interest earned at 10%=($17,500-P)*0.10*1=0.10($17,500-P)\r<BR>\n" );
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document.write( "Now we are told that (1)+(2)=$1,941, so our equation to solve is:\r<BR>\n" );
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document.write( "0.12P+0.10($17,500-P)=$1,941  get rid of parens\r<BR>\n" );
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document.write( "0.12P+$1,750-0.10P=$1,941  subtract $1,750 from both sides\r<BR>\n" );
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document.write( "0.12P+$1,750-$1,750-0.10P=$1,941-$1,750  collect like terms\r<BR>\n" );
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document.write( "0.02P=$191  divide both sides by 0.02\r<BR>\n" );
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document.write( "P=$9,550-------------------------------amount invested at 12%\r<BR>\n" );
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document.write( "($17,500-P)=$17,500-$9,550)=$7,950----------amount invested at 10%\r<BR>\n" );
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document.write( "CK\r<BR>\n" );
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document.write( "$9550*0.12+$7950*0.10=$1941\r<BR>\n" );
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document.write( "$1146+$795=$1941<BR>\n" );
document.write( "$1941=$1941\r<BR>\n" );
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document.write( "Hope this helps----ptaylor\r<BR>\n" );
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