document.write( "Question 1115269: Meisha has $25,000 that she wants to invest. She invests it in accounts paying 12%, 7%, and
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document.write( "6% simple interest. The account paying 12% is a higher-risk account, so she wants the
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document.write( "amount in that account to be half of the amount she has in the account paying 6% simple
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document.write( "interest. If her annual interest is $1945, how much is invested at each rate? \n" );
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Algebra.Com's Answer #853830 by ikleyn(53727) You can put this solution on YOUR website! . \n" ); document.write( "Meisha has $25,000 that she wants to invest. She invests it in accounts paying 12%, 7%, \n" ); document.write( "and 6% simple interest. The account paying 12% is a higher-risk account, so she wants the \n" ); document.write( "amount in that account to be half of the amount she has in the account paying 6% simple \n" ); document.write( "interest. If her annual interest is $1945, how much is invested at each rate? \n" ); document.write( "~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " For this problem (and for many other similar problems) there is much more simpler \r \n" ); document.write( "\n" ); document.write( " and more straightforward way to solve, which I will show you right now.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \r\n" ); document.write( "Let 'x' be the amount invested at 12%.\r\n" ); document.write( "\r\n" ); document.write( "Then the amount invested at 6% is 2x, \r\n" ); document.write( "\r\n" ); document.write( "and the amount invested at 7% is the rest (25000 - x - 2x) = (25000-3x) dollars.\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "Now write an equation for the total annual interest \r\n" ); document.write( "\r\n" ); document.write( " 0.12x + 0.06(2x) + 0.07*(25000-3x) = 1945 dollars.\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "Simplify and find x\r\n" ); document.write( "\r\n" ); document.write( " 0.12x + 0.12x + 1750 - 0.21x = 1945,\r\n" ); document.write( "\r\n" ); document.write( " 0.12x + 0.12x - 0.21x = 1945 - 1750,\r\n" ); document.write( "\r\n" ); document.write( " 0.03x = 195\r\n" ); document.write( "\r\n" ); document.write( " x = 195/0.03 = 6500 dollars.\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "Thus, $6500 was invested at 12%; 2*6500 = 13000 dollars were invested at 6% and the rest, \r\n" ); document.write( "25000-13000-6500 = $5500 were invested at 7%.\r\n" ); document.write( "\r \n" ); document.write( "\n" ); document.write( "Solved.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "I neither used a system of three equation nor a system of two equations.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "One equation in one unknown was enough to find all three unknowns.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "It is a focus-pocus, which works successfully in many other similar problems.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |