Intermediate Algebra for College Students (7th Edition)

Published by Pearson
ISBN 10: 0-13417-894-7
ISBN 13: 978-0-13417-894-3

Chapter 5 - Section 5.7 - Polynomial Equations and Their Applications - Exercise Set - Page 394: 113

Answer

$\$1700$ at $5\%$ and $\$ 1300$ at $8\%$.

Work Step by Step

Let the amount invested at $5\%$ be $x$. and the amount invested at $8\%$ be $y$. Total amount $x+y=\$3000$...... (1) and total interest $0.05x+0.08y=\$189$......(2) Multiply equation (1) by $-0.05$. $-0.05x-0.05y=-0.05\cdot \$3000$ $-0.05x-0.05y=-\$150$ ......(3) Add equation (2) and (3). $0.05x+0.08y-0.05x-0.05y=\$189-\$150$ Add like terms. $0.03y=\$39$ Divide both sides by $0.03$. $\frac{0.03y}{0.03}=\frac{\$39}{0.03}$ Simplify. $y=\$1300$ Plug the value of $y$ into equation (1). $x+\$1300=\$3000$ Subtract $\$1300$ from both sides. $x+\$1300-\$1300=\$3000-\$1300$ Simplify. $x=\$1700$.
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