document.write( "Question 1189556: Last year, Dan had $10,000 to invest. He invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 6% simple interest per year. After one year, he received a total of $590 in interest. How much did he invest in each account?\r
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document.write( "First account:
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document.write( "Second account: \n" );
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Algebra.Com's Answer #820955 by greenestamps(13200)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "Here is a quick and easy informal way to solve a \"mixture\" problem like this. \n" ); document.write( "(1) $590 interest on an investment of $10,000 is a return of 5.9% \n" ); document.write( "(2) 5.9% is 9/10 of the way from 5% to 6% \n" ); document.write( "(3) That means 9/10 of the total was invested at the higher rate. \n" ); document.write( "ANSWER: 9/10 of the $10,000, or $9000, at 6%; the other $1000 at 5%. \n" ); document.write( "CHECK: .06(9000)+.05(1000)=540+50=590 \n" ); document.write( " \n" ); document.write( " |