Question 1162519
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Another "mixture" problem that can be solved quickly and easily without using algebra.<br>
(1) All million dollars at 3.5% would earn $35,000 interest; all at 4.5% would earn $45,000 interest; the actual interest earned was $38,000.
(2) $38,000 is 3/10 of the way from $35,000 to $45,000 (picture the three figures on a number line....)
(3) That means 3/10 of the total was invested at the higher rate.<br>
ANSWER: 3/10 of the million dollars, or $300,000, at 4.5%; the other $700,000 at 3.5%.<br>
CHECK:
.045(300,000)+.035(700,000) = 13500+24500 = 38000<br>