Question 158595: a TOTAL INVESTMENT OF $13.500 IS DISTRIBUTED IN TWO ACCOUNTS, ONE THAT YIELDS INTREST AT AN ANNUAL RATE OF 5%, AND THE OTHER YIELDING INTREST AT THE ANNUAL RATE OF 7%. DETERMINE HOW MUCH IS INVESTED IN EACH ACCOUNT, IF THE TOTAL INTEREST AFTER ONE YEAR IS $855.
MY ANSWER
.07 + .05(13,500-X) = 855
.07X + 675-.05X = 855
-675 -675
.02X=180
.02X/.02=180/.02
X=9000
.07 X 9000 = 630
.05(13,500 - 9000)=4500
BUT MY INSTRUCTOR SAID IT WAS WRONG COULD YOU TELL ME WHY IT IS WRONG I DON'T UNDERSTAND AND CAN'T SEE PAST WHAT I DID
THANK YOU
Answer by vleith(2983)   (Show Source):
You can put this solution on YOUR website! Your calculations are correct.
The amount invested at 7% is $9000
The amount invested at 5% is $4500.
This statement is wrong : .05(13,500 - 9000)=4500
It should be 0.05*(13500-9000) = 225
If that is the reason your instructor is rejecting your answer, I feel for you. It will be a really long year in a classroom with a nit picker like that :(
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