document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1162082>Question 1162082</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mr. Wilson invested money in two accounts. His total investment was $29,000. If one account pays 4% in interest and the other pays 7% in interest, how much did he invest in each account if he earned a total of $1,550 in interest in 1 year?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #785794 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13200)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=785794\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "A setup using the traditional algebraic approach would look something like this:<br><BR>\n" );
document.write( "let x = amount invested at 4%<BR>\n" );
document.write( "then 29000-x = amount invested at 7%<br><BR>\n" );
document.write( "The interest from one investment is .04(x); from the other is .07(29000-x).<br><BR>\n" );
document.write( "The total interest was $1160:<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=.04%28x%29%2B.07%2829000-x%29+=+1160 ALIGN=MIDDLE  ALT=\".04%28x%29%2B.07%2829000-x%29+=+1160\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "Solve using basic algebra.  I leave that to you.<br><BR>\n" );
document.write( "I find this alternative method faster and easier....<br><BR>\n" );
document.write( "(1) Determine how the actual interest compares to the interest that would have been earned if the whole $29000 had been invested at each rate.<BR>\n" );
document.write( "all at 4%: .04(29000) = 1160<BR>\n" );
document.write( "actual interest: 1550<BR>\n" );
document.write( "all at 7%: .07(29000) = 2030<br><BR>\n" );
document.write( "(2) Where the actual interest lies between the two extremes exactly determines what fraction of the total was invested at each rate.<br><BR>\n" );
document.write( "The difference between 1160 and 2030 is 870<BR>\n" );
document.write( "The difference between 1160 and 1550 is 390<BR>\n" );
document.write( "The actual interest 1550 is 390/870 = 39/87 = 13/29 of the way from 1160 to 2030.<br><BR>\n" );
document.write( "That means 13/29 of the total was invested at the higher rate.<br><BR>\n" );
document.write( "ANSWER: 13/29 of $29,000, or $13,000, at 7%; the other $16,000 at 4%.<br><BR>\n" );
document.write( "CHECK: .07(13000)+.04(16000) = 910+640 = 1550<br><BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );