document.write( "Question 1144233: Dave has $3000 more money in a money market account than his savings account the savings account pays .5% and the market account pays 2% how much is invested in each account if the annual interest that he earns on the 2% investment $180 more than the interest on the 0.5% investment \n" ); document.write( "

Algebra.Com's Answer #765273 by ikleyn(52781) $\"\"$ $\"About$

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document.write( "Let x be the amount, in dollars, at the money market account, paying 2%.\r\n" );
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document.write( "Then the amount at the saving account is (x-3000) dollars.\r\n" );
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document.write( "The equation, from the condition, is\r\n" );
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document.write( "    0.02x - 0.005*(x-3000) = 180  dollars   (interest minus interest equals to the given difference)\r\n" );
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document.write( "From the equation, express x and calculate\r\n" );
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document.write( "    x =  = 11000.\r\n" );
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document.write( "ANSWER.  $11000 at the 2% account and (11000-3000) = 8000 dollars at the 0.5% account.\r\n" );
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document.write( "CHECK.   0.02*11000 - 0.005*8000 = 180 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
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\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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