Algebra and Trigonometry: Structure and Method, Book 2

2000th Edition

ISBN: 9780395977255

Author: MCDOUGAL LITTEL

Publisher: McDougal Littell

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Question

Chapter 1.9, Problem 12P

To determine

To calculate:

The total rate is invested

Expert Solution & Answer

Answer to Problem 12P

Larry invested $900 at 5% , and $2,100 at 8% .

Explanation of Solution

Given information:

Larry has annual return of 213 from $3000 invested at the simple interest

Simple interest: 5% and 8%

Calculation:

Let,

x be an amount invested at 5% , then an amount invested at 8% was 3000−x .

The total interest is earned from the two investments can be in the terms of x as:

5%x+8%(3000−x)

Setting it equal 213 :

5%x+8%(3000−x)=213

Solving for x obtain:

Multiply both sides by 100

5x+8(3000−x)=213005x+24000−8x=21300−3x=−2700x=(−2700)(−3)x=27003x=900

Check the solution:

∴0.05×900+0.08×2100=213∴45+168=213∴213=213

Larry invested $900 at 5% , and $2,100 at 8% .

Chapter 1.9, Problem 11P

Chapter 1.9, Problem 13P

Chapter 1 Solutions

Algebra and Trigonometry: Structure and Method, Book 2

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The total rate is invested

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To calculate: The total rate is invested

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The total rate is invested