document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1164206>Question 1164206</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Paul has $70,000 to invest. His intent is to earn 15% interest on his investment. He can invest part of his money at 8% interest and part at 18% interest. How much does Paul need to invest in each option to make a total 15% return on his $70? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #788682 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=788682\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "The setup for solving the problem shown by the other tutor is a good example of how to solve a problem using formal algebra.  You should understand how to use that method.<br><BR>\n" );
document.write( "If a formal algebraic method is not required, here is a solution method that is almost trivial.<br><BR>\n" );
document.write( "The target return rate, 15%, is 7/10 of the way from 8% to 18%.  (8 to 15 is a difference of 7; 8 to 18 is a difference of 10.)<br><BR>\n" );
document.write( "Therefore, 7/10 of the total needs to be invested at the higher rate.<br><BR>\n" );
document.write( "ANSWER: 7/10 of the $70,000, or 49,000, at 18%; the other $21,000 at 8%.<br><BR>\n" );
document.write( "CHECK:<BR>\n" );
document.write( "0.18(49000)+0.08(21000) = 8820+1680 = 10500<BR>\n" );
document.write( "0.15(70000) = 10500<br><BR>\n" );
document.write( " </SPAN>\n" );
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