SOLUTION: The annual interest on an $8000 investment exceeds the interest earned on a $2000 investment by $392. The $8000 is invested at a 0.4% higher rate of interest than the $2000. What

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: The annual interest on an $8000 investment exceeds the interest earned on a $2000 investment by $392. The $8000 is invested at a 0.4% higher rate of interest than the $2000. What      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1049657: The annual interest on an $8000 investment exceeds the interest earned on a $2000 investment by $392. The $8000 is invested at a 0.4% higher rate of interest than the $2000. What is the interest rate of each investment?
Answer by advanced_Learner(501) About Me  (Show Source):
You can put this solution on YOUR website!
%28x%2B0.004%29%248000=%28x%29%242000%2B392
Solved by pluggable solver: EXPLAIN simplification of an expression
Your Result:


YOUR ANSWER


  • This is an equation! Solutions: x=0.06.
  • Graphical form: Equation %28x%2B0.004%29%2A8000-2000%2Ax=392 was fully solved.
  • Text form: (x+0.004)*8000-2000*x=392 simplifies to 0=0
  • Cartoon (animation) form: simplify_cartoon%28+%28x%2B0.004%29%2A8000-2000%2Ax=392+%29
    For tutors: simplify_cartoon( (x+0.004)*8000-2000*x=392 )
  • If you have a website, here's a link to this solution.

DETAILED EXPLANATION

Look at %28x%2B0.004%29%2A8000-2000%2Ax=highlight_red%28+392+%29.
Moved these terms to the left highlight_green%28+-392+%29
It becomes %28x%2B0.004%29%2A8000-2000%2Ax-highlight_green%28+392+%29=0.
Look at highlight_red%28+%28x%2B0.004%29%2A8000+%29-2000%2Ax-392=0.
Expanded term 8000 by using associative property on %28x%2B0.004%29
It becomes highlight_green%28+8000%2Ax+%29%2Bhighlight_green%28+8000%2A0.004+%29-2000%2Ax-392=0.
Look at 8000%2Ax%2Bhighlight_red%28+8000%2A0.004+%29-2000%2Ax-highlight_red%28+392+%29=0.
Replace constants in expression: highlight_red%28+8000%2A0.004+%29,highlight_red%28+-392+%29 with highlight_green%28+-360+%29
It becomes highlight_green%28+-360+%29%2B8000%2Ax-2000%2Ax=0.
Look at highlight_red%28+-360+%29%2B8000%2Ax-2000%2Ax=0.
Moved -360 to the right of expression
It becomes 8000%2Ax-2000%2Ax%2Bhighlight_green%28+-360+%29=0.
Look at 8000%2Ax-2000%2Ax%2Bhighlight_red%28+-360+%29=0.
Removed extra sign in front of -360
It becomes 8000%2Ax-2000%2Ax-highlight_green%28+360+%29=0.
Look at highlight_red%28+8000%2Ax+%29-highlight_red%28+2000%2Ax+%29-360=0.
Eliminated similar terms highlight_red%28+8000%2Ax+%29,highlight_red%28+-2000%2Ax+%29 replacing them with highlight_green%28+%288000-2000%29%2Ax+%29
It becomes highlight_green%28+%288000-2000%29%2Ax+%29-360=0.
Look at %28highlight_red%28+8000+%29-highlight_red%28+2000+%29%29%2Ax-360=0.
Added fractions or integers together
It becomes %28highlight_green%28+6000+%29%29%2Ax-360=0.
Look at highlight_red%28+%28highlight_red%28+6000+%29%29%2Ax+%29-360=0.
Remove unneeded parentheses around factor highlight_red%28+6000+%29
It becomes highlight_green%28+6000+%29%2Ax-360=0.
Look at highlight_red%28+6000%2Ax-360+%29=0.
Solved linear equation highlight_red%28+6000%2Ax-360=0+%29 equivalent to 6000*x-360 =0
It becomes highlight_green%28+0+%29=0.
Result: 0=0
This is an equation! Solutions: x=0.06.

Universal Simplifier and Solver


Done!