document.write( "Question 1152475: James has a certain amount of money invested at 5% annual interest and $500 more than twice that amount invested in bonds yielding 7%. His total annual income from interest is $187. How much does he have invested at each rate? \n" ); document.write( "

Algebra.Com's Answer #774498 by ikleyn(52909) $\"\"$ $\"About$

You can put this solution on YOUR website!
.
\n" ); document.write( "

\r\n" );
document.write( "\r\n" );
document.write( "Let x be the amount invested at 5%.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Then the amount invested at 7% is (2x+500) dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "The partial interests are 0.05x dollars and 0.07*(2x+500) dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "The equation for the total interest is\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    0.05x + 0.07*(2x+500) = 187  dollars.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "From the equation\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "    x =  = 800.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "ANSWER.  $800 were invested at 5%, and 2*800+500 = 2100 dollars were invested at 7%.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "CHECK.   0.05*800 + 0.07*2100 = 187 dollars.    ! Precisely correct !\r\n" );
document.write( "

\r
\n" ); document.write( "\n" ); document.write( "Solved.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "---------------------\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "It is a standard and typical problem on investments.\r
\n" ); document.write( "
\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
\n" ); document.write( "
\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
\n" ); document.write( "
\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
\n" ); document.write( "
\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
\n" ); document.write( "
\n" ); document.write( "
\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
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );