document.write( "Question 1132267: a grocer deposited a certain sum into a high-yield mutual fund that returns a 13% annual simple interest rate. A second deposit, $25,000 more than the first, was placed in a certificate of deposit that returns a 7% annual simple interest rate. The total interest earned on both investments for one year was $4750 How much money was deposited in the mutual fund? \n" ); document.write( "

Algebra.Com's Answer #749246 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "Let x be the amount in dollars deposited in the mutual fund (the value under the question).\r\n" );
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document.write( "Your equation is\r\n" );
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document.write( "    interest + interest = total interest,    or\r\n" );
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document.write( "    0.13x    + 0.07*25000 = 4750    dollars,\r\n" );
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document.write( "    x =  = 23076.92 dollars.     ANSWER\r\n" );
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document.write( "CHECK.  0.13*23076.92 + 0.07*25000 = 4750 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( "Save the link to this online textbook together with its description\r
\n" ); document.write( "
\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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