Precalculus (6th Edition)

Published by Pearson
ISBN 10: 013421742X
ISBN 13: 978-0-13421-742-0

Chapter 1 - Equations and Inequalities - 1.2 Applications and Modeling with Linear Equations - 1.2 Exercises - Page 103: 40

Answer

$\$20,000$ at $3.25\%$ and $\$14,560$ at $1.75\%$.

Work Step by Step

Step 1. After paying tax, she got $48,000\times(1-0.28)=34,560$ Step 2. Assume $x$ amount at $3.25\%$, thus the amount at $1.75\%$ would be $34,560-x$ Step 3. The total annual interest can be found as $0.0325x+0.0175(34,560-x)=904.80$ Step 4. Solve the equation: $0.0325x-0.0175x+604.80=904.80$ or $0.015x=300$, thus $x=20,000$ Step 5. Conclusion: investments $\$20,000$ at $3.25\%$ and $\$14,560$ at $1.75\%$.
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