document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1200438>Question 1200438</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Harry invested $4,000.00 in two investments: one investment was a CD that paid 3.4% annual <BR>\n" );
document.write( "interest, and the other investment was a bond that paid 2.5% annual interest. If he received a check in <BR>\n" );
document.write( "the mail at the end of the year for $114.40 for both investments, how much did he invest in the CD? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #834575 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=834575\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "The response from the other tutor sets the problem up using the standard formal algebraic method.<br><BR>\n" );
document.write( "If formal algebra is not required, here is a way to solve any 2-part mixture problem like this with less work.<br><BR>\n" );
document.write( "A return of $114.40 on an investment of $4000 is an interest rate of 114.40/4000 = 0.0286 or 2.86%.<br><BR>\n" );
document.write( "Compare that to the two separate interest rates of 2.50% and 3.40% and observe/calculate that 2.86% is 0.36/0.90 = 2/5 of the way from 2.5% to 3.4%.  That means 2/5 of the total was invested at the higher rate.<br><BR>\n" );
document.write( "ANSWERS: 2/5 of $4000, or $1600, was invested at 3.4%; the other $2400 at 2.5%.<br><BR>\n" );
document.write( "CHECK: .034($1600)+.025($2400) = $54.40+$60.00 = $144.40<br><BR>\n" );
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