SOLUTION: Last year, Tony had $20,000 to invest. He invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 6% simple

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Last year, Tony had $20,000 to invest. He invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 6% simple       Log On


   

Question 1049016: Last year, Tony had $20,000 to invest. He invested some of it in an account that paid 5% simple interest per year, and he invested the rest in an account that paid 6% simple interest per year. After one year, he received a total of $1170 in interest. How much did he invest in each account?
Found 2 solutions by jorel555, advanced_Learner:
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
Let n be the amount invested at 6%. Then:
.06n+.05(20000-n)=1170
.01n+1000=1170
.01n=170
n=17000
$17000 was invested at 6%, $3000 was invested at 5%. ☺☺☺☺

Answer by advanced_Learner(501) About Me  (Show Source):
You can put this solution on YOUR website!
let a stand for amount invested at 5%25 then 2000-a paid 6%25
interest+interest=interest

5%25a+6%25(20000-a)=1170
0.05a+0.06(20000-a)=1170
5a+6(20000-a)=117000
5a+(120000-6a)=117000
12000-a=117000
-a=117000-120000
-a=117000-120000
-a=-3000
a=3000
you solve for a
3000 at 5%25 and 20000-3000
which means 17000 at 6%25

Solved by pluggable solver: EXPLAIN simplification of an expression
Your Result:


YOUR ANSWER


  • This is an equation! Solutions: a=3000.
  • Graphical form: Equation 5a%2B120000-6a=117000 was fully solved.
  • Text form: 5a+120000-6a=117000 simplifies to 0=0
  • Cartoon (animation) form: simplify_cartoon%28+5a%2B120000-6a=117000+%29
    For tutors: simplify_cartoon( 5a+120000-6a=117000 )
  • If you have a website, here's a link to this solution.

DETAILED EXPLANATION

Look at 5%2Aa%2Bhighlight_red%28+120000+%29-6%2Aa=117000.
Moved 120000 to the right of expression
It becomes 5%2Aa-6%2Aa%2Bhighlight_green%28+120000+%29=117000.
Look at highlight_red%28+5%2Aa+%29-highlight_red%28+6%2Aa+%29%2B120000=117000.
Eliminated similar terms highlight_red%28+5%2Aa+%29,highlight_red%28+-6%2Aa+%29 replacing them with highlight_green%28+%285-6%29%2Aa+%29
It becomes highlight_green%28+%285-6%29%2Aa+%29%2B120000=117000.
Look at %28highlight_red%28+5+%29-highlight_red%28+6+%29%29%2Aa%2B120000=117000.
Added fractions or integers together
It becomes %28highlight_green%28+-1+%29%29%2Aa%2B120000=117000.
Look at %28highlight_red%28+-1+%29%29%2Aa%2B120000=117000.
Removed extra sign in front of -1
It becomes %28-highlight_green%28+1+%29%29%2Aa%2B120000=117000.
Look at highlight_red%28+%28-highlight_red%28+1+%29%29%2Aa+%29%2B120000=117000.
Remove unneeded parentheses around factor highlight_red%28+1+%29
It becomes -highlight_green%28+1+%29%2Aa%2B120000=117000.
Look at -highlight_red%28+1+%29%2Aa%2B120000=117000.
Remove extraneous '1' from product highlight_red%28+1+%29
It becomes -a%2B120000=117000.
Look at -a%2B120000=highlight_red%28+117000+%29.
Moved these terms to the left highlight_green%28+-117000+%29
It becomes -a%2B120000-highlight_green%28+117000+%29=0.
Look at -a%2Bhighlight_red%28+120000+%29-highlight_red%28+117000+%29=0.
Added fractions or integers together
It becomes -a%2Bhighlight_green%28+3000+%29=0.
Look at highlight_red%28+-a%2B3000+%29=0.
Solved linear equation highlight_red%28+-a%2B3000=0+%29 equivalent to -a+3000 =0
It becomes highlight_green%28+0+%29=0.
Result: 0=0
This is an equation! Solutions: a=3000.

Universal Simplifier and Solver


Done!