document.write( "Question 1197548: A teacher invests $12,000 in accounts and earns $$870 in interest for the year. Part of the money was invested at 6.38% and the remainder at 7.83%, both simple interest. How much was invested at each rate?
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Algebra.Com's Answer #830846 by greenestamps(13198)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "A setup for a solution by a standard algebraic method.... \n" ); document.write( "x = amount invested at 6.38% \n" ); document.write( "12000-x = amount invested at 7.83% \n" ); document.write( "The total interest was $870: \n" ); document.write( " \n" ); document.write( "The solution is straightforward; but the numbers are ugly. Using a calculator might be a good idea for doing the actual arithmetic. \n" ); document.write( "An informal solution.... The numbers are still ugly; but in the end you get the answer with less work. \n" ); document.write( "(1) Use a calculator to find that $870 interest on $12000 is an interest rate of 7.25%. \n" ); document.write( "(2) Using a number line and simple arithmetic, determine that 7.25% is 87/145 = 3/5 of the way from 6.38% to 7.83%. \n" ); document.write( "(3) That means 3/5 of the total was invested at the higher rate. \n" ); document.write( "ANSWER: 3/5 of $12,000, or $7200, at 7.83%; the other $4800 at 6.38%. \n" ); document.write( "CHECK (use a calculator): .0638(4800)+.0783(7200)=870 \n" ); document.write( " \n" ); document.write( " |