Precalculus (6th Edition) Blitzer

Published by Pearson
ISBN 10: 0-13446-914-3
ISBN 13: 978-0-13446-914-0

Chapter P - Section P.8 - Modeling with Equations - Exercise Set - Page 123: 21

Answer

${{\$}} 2000$ was invested into the $ 6\%$ paying account, and ${{\$}} 5000$ was invested into the $ 8\%$ paying account.

Work Step by Step

Let $ x $ = amount invested into the $ 6\%$ paying account. Interest earned from the $ 6\%$ paying account = $0.06x $ The rest of the investment, $(7000-x)$ earns $ 8\%$, which equals $\qquad $ $0.08(7000-x)$ The sum of these amounts earned is ${{\$}} 520:$ $0.06x+0.08(7000-x)=520$ $0.06x+560-0.08x=520$ $-0.02x=520-560$ $-0.02x=-40 \qquad $ ... multiply with $-50$ $ x=2000$ So, ${{\$}} 2000$ was invested into the $ 6\%$ paying account, and ${{\$}} 5000$ was invested into the $ 8\%$ paying account.
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