document.write( "Question 1165172: The annual interest on an $20,000 investment exceeds the interest earned on an $11,000 investment by $780. The $20,000 is invested at a 0.3% higher rate of interest than the $11,000. What is the interest rate of each investment? \n" ); document.write( "

Algebra.Com's Answer #789630 by ikleyn(52875) $\"\"$ $\"About$

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document.write( "Let \"r\" be the lower interest rate (as a decimal);\r\n" );
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document.write( "then the higher interest rate is (r + 0.003).\r\n" );
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document.write( "From the condition, you have this equation \r\n" );
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document.write( "    20000*(r + 0.003) - 11000*r = 780   dollars.\r\n" );
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document.write( "Solve it and find \"r\".  Then evaluate  (r+0.003).\r\n" );
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