document.write( "Question 104921: Mr. Rich invested 50,000. Part of it he put in a gold mine stock from which he hoped to receive 20% per year. The rest he invested in bank stock which was paying 6%. If he received 400 more the first year from the bank stock than from the mining stock, how much did he invest in each stock? \n" ); document.write( "
Algebra.Com's Answer #76396 by Fombitz(32388)![]() ![]() You can put this solution on YOUR website! Let's name the variables first \n" ); document.write( "G-amount of money he put in the gold stock \n" ); document.write( "B-amount of money he put in the back stock \n" ); document.write( "1. \n" ); document.write( "Interest for one year is calculated using the rate and the amount of money. \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "You also know a relationship between the interests from each stock. \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "2. \n" ); document.write( "From equation 1, \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "Substituting into 2, \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "From 1, \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "Check your answer. \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "Good answer. \n" ); document.write( " \n" ); document.write( " |