document.write( "Question 1184067: A state employees' pension fund invested a total of one million dollars in two accounts that earned 3.5% and 4.5% annual simple interest. At the end of the year, the total interest earned from the two investments was $43,000. How much was invested at each rate?
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Algebra.Com's Answer #849882 by CPhill(1959)![]() ![]() You can put this solution on YOUR website! Here's how to solve this problem:\r \n" ); document.write( "\n" ); document.write( "**Let:**\r \n" ); document.write( "\n" ); document.write( "* 'x' be the amount invested at 3.5% interest. \n" ); document.write( "* 'y' be the amount invested at 4.5% interest.\r \n" ); document.write( "\n" ); document.write( "**Set up the equations:**\r \n" ); document.write( "\n" ); document.write( "* **Equation 1 (Total investment):** x + y = 1,000,000 \n" ); document.write( "* **Equation 2 (Total interest):** 0.035x + 0.045y = 43,000\r \n" ); document.write( "\n" ); document.write( "**Solve the equations:**\r \n" ); document.write( "\n" ); document.write( "One way to solve this is using substitution:\r \n" ); document.write( "\n" ); document.write( "1. **Solve Equation 1 for x:** x = 1,000,000 - y\r \n" ); document.write( "\n" ); document.write( "2. **Substitute this value of x into Equation 2:** \n" ); document.write( " 0.035(1,000,000 - y) + 0.045y = 43,000\r \n" ); document.write( "\n" ); document.write( "3. **Simplify and solve for y:** \n" ); document.write( " 35,000 - 0.035y + 0.045y = 43,000 \n" ); document.write( " 0.01y = 8,000 \n" ); document.write( " y = 800,000\r \n" ); document.write( "\n" ); document.write( "4. **Substitute the value of y back into Equation 1 to find x:** \n" ); document.write( " x + 800,000 = 1,000,000 \n" ); document.write( " x = 200,000\r \n" ); document.write( "\n" ); document.write( "**Answer:**\r \n" ); document.write( "\n" ); document.write( "* $200,000 was invested at 3.5% interest. \n" ); document.write( "* $800,000 was invested at 4.5% interest. \n" ); document.write( " \n" ); document.write( " |