document.write( "Question 1096643: Carlos invested part of $2000 in a 10% certificate account and the rest in a 6% passbook account. The total annual interest from both accounts is $180. How much did he invest at 6%? \n" ); document.write( "
Algebra.Com's Answer #753226 by VFBundy(438)![]() ![]() You can put this solution on YOUR website! 10% certificate: \n" ); document.write( "Principal = p \n" ); document.write( "Rate = 0.10 \n" ); document.write( "Interest = 0.10p \n" ); document.write( " \n" ); document.write( "6% passbook: \n" ); document.write( "Principal = 2000 - p \n" ); document.write( "Rate = 0.06 \n" ); document.write( "Interest = 0.06(2000 - p) = 120 - 0.06p \n" ); document.write( " \n" ); document.write( "Total interest: \n" ); document.write( " \n" ); document.write( "0.10p + (120 - 0.06p) = 180 \n" ); document.write( " \n" ); document.write( "Simplify: \n" ); document.write( " \n" ); document.write( "0.04p = 60 \n" ); document.write( " \n" ); document.write( "Solve for p: \n" ); document.write( " \n" ); document.write( "p = 1500 \n" ); document.write( " \n" ); document.write( "From earlier: \n" ); document.write( " \n" ); document.write( "6% passbook: \n" ); document.write( "Principal = 2000 - p = 2000 - 1500 = 500 \n" ); document.write( " \n" ); document.write( "Carlos invested $500 at 6%. |