document.write( "Question 435031: $2000 total deposit with 2 savings accounts. One pays interest rate of 6%the other at rate of 8% if a total earned interest is $144 how much is each deposit \n" ); document.write( "

Algebra.Com's Answer #853272 by greenestamps(13258) $\"\"$ $\"About$

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\n" ); document.write( "This is essentially a mixture problem -- we are mixing money invested with a return of 6% and money invested at 8%.

\n" ); document.write( "Here is a solution using a method that can be used in any 2-part mixture problem like this.

\n" ); document.write( "All $2000 invested at 6% would yield a return of $120; all invested at 8% would yield a return of $160; the actual return is $144.

\n" ); document.write( "The ratio in which the money is invested in the two places is exactly determined by where the actual return of $144 lies between $120 and $160.

\n" ); document.write( "Use a number line if it helps to determine that $144 is three-fifths of the way from $120 to $160.

\n" ); document.write( "(The difference between $160 and $120 is $40; the difference between $144 and $120 is $24. $24 is 24/40 = 6/10 = 3/5 of $40)

\n" ); document.write( "That means 3/5 of the total $2000 was invested at the higher rate.

\n" ); document.write( "3/5 of $2000 is $1200, so $1200 of the total $2000 was invested at 8%.

\n" ); document.write( "ANSWERS: $1200 was invested at 8%; $800 at 6%.

\n" ); document.write( "CHECK: .08(1200)+.06(800) = 96+48 = 144

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