document.write( "Question 1193034: please help me solve this word problem. Monico invests a total of $22,500 in two accounts paying 8% and 6% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $1,420.00
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Algebra.Com's Answer #824982 by ikleyn(52879)\"\" \"About 
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\n" ); document.write( "please help me solve this word problem.
\n" ); document.write( "Monico invests a total of $22,500 in two accounts paying 8% and 6% annual interest, respectively.
\n" ); document.write( "How much was invested in each account if, after one year, the total interest was $1,420.00
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document.write( "Let x be the amount invested at 8%, in dollars.\r\n" );
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document.write( "Then the amount invested at 6% is (22500-x) dollars.\r\n" );
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document.write( "The annual interest produced by the 8% account is 0.08x  dollars.\r\n" );
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document.write( "The annual interest produced by the 6% account is 0.06*(22500-x)  dollars.\r\n" );
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document.write( "The total annual interest is the sum  0.08x + 0.06*(22500-x)  dollars.\r\n" );
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document.write( "Write an equation for the total annual interest\r\n" );
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document.write( "    0.08x + 0.06*(22500-x) = 1420  dollars.\r\n" );
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document.write( "Simplify this equation and find x\r\n" );
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document.write( "    0.08x + 0.06*22500 - 0.06x = 1420\r\n" );
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document.write( "    0.08x - 0.06x = 1420 - 0.06*22500\r\n" );
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document.write( "         0.02x    =      70\r\n" );
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document.write( "             x    =      70/0.02  \r\n" );
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document.write( "             x    =      3500.\r\n" );
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document.write( "ANSWER.  $3500 was invested at 8% and the rest  22500-3500 = 19000 dollars was invested at 6%.\r\n" );
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document.write( "CHECK.   0.08*3500 + 0.06*19000 = 1420  dollars,  total annual interest.   ! correct !\r\n" );
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\n" ); document.write( "\n" ); document.write( "It is a standard and typical problem on investments.\r
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\n" ); document.write( "\n" ); document.write( "If you need more details,  or if you want to see other similar problems solved by different methods,  look into the lesson \r
\n" ); document.write( "\n" ); document.write( "    - Using systems of equations to solve problems on investment\r
\n" ); document.write( "\n" ); document.write( "in this site.\r
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\n" ); document.write( "\n" ); document.write( "You will find there different approaches  (using one equation or a system of two equations in two unknowns),  as well as
\n" ); document.write( "different methods of solution to the equations  (Substitution,  Elimination).\r
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\n" ); document.write( "\n" ); document.write( "Also,  you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( "    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
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\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic  \"Systems of two linear equations in two unknowns\".\r
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\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
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\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
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