document.write( "Question 1152966: you invested $5000 between two accounts paying 7% and 9% annual interest, respectively. If the total interest earned for the year was $390 how much was invest at each rate? \n" ); document.write( "
Algebra.Com's Answer #775111 by greenestamps(13206) You can put this solution on YOUR website! \n" ); document.write( "Here is a very different non-algebraic way for solving many kinds of problems similar to this one. \n" ); document.write( "All $5000 invested at 7% would yield $350 interest; all at 9% would yield $450 interest. \n" ); document.write( "Use any method you want to determine that the actual interest of $390 is \"40/100 = 2/5 of the way from $350 to $450\". \n" ); document.write( "That means 2/5 of the money was invested at the higher rate. \n" ); document.write( "ANSWER: 2/5 of the $5000, or $2000, at 9%; $3000 at 7% \n" ); document.write( "CHECK: .09(2000)+.07(3000) = 180+210 = 390 \n" ); document.write( " \n" ); document.write( " |