document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=124247>Question 124247</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/9780618803712/algebrahomeworkh>college algebra</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> A total of $7500 is deposited into two simple interest accounts. On one account the annual simple interest rate of 5.5% and on the second account the annual simple interest rate is 7%. The amount of interest earned for 1 year was $405. How much was invested in each account. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #91136 by </B><A HREF=/tutors/aboutme.mpl?userid=ptaylor><B>ptaylor(2198)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ptaylor><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=ptaylor><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=91136\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> SOMETHING IS WRONG WITH THIS PROBLEM!!!! IF YOU INVESTED THE $7500 ALL AT 5.5%, THE INTEREST ACCRUED WOULD BE: 7500*0.55*1 0R $412.50.  WHEN YOU GET IT RIGHT, THE FOLLOWING WOULD BE THE APPROACH FOR SOLVING IT:\r<BR>\n" );
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document.write( "Interest(I) equals Principal(P) times Rate(R) times Time(T) or I=PRT\r<BR>\n" );
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document.write( "Let P=amount deposited in the 5.5% account; Interest accrued on this account would be P*0.055*1 or 0.0.055P<BR>\n" );
document.write( "Then 7500-P=amount deposited in the 7% account;  Interest accrued on this account would be (7500-P)*0.07*1 or 525-0.07P\r<BR>\n" );
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document.write( "Now we are told that the total interest accrued on both accounts =$405. So our equation to solve is:\r<BR>\n" );
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document.write( "0.055P+525-0.07P=405  subtract 525 from both sides<BR>\n" );
document.write( "0.055P-0.07P+525-525=405-525 collect like terms\r<BR>\n" );
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document.write( "-0.015P=-120  divide both sides by -0.015\r<BR>\n" );
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document.write( "P=$8000-----------------amount invested at 5.5% HELLO??????????????\r<BR>\n" );
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document.write( "Hope this helps----ptaylor<BR>\n" );
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