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: 22

Answer

${{\$}} 5000$ was invested into the $ 5\%$ paying account, and ${{\$}} 6000$ was invested into the $ 8\%$ paying account.

Work Step by Step

Let $ x $ = amount invested into the $ 5\%$ paying account. Interest earned from the $ 5\%$ paying account = $0.05x $ The rest of the investment, $(11,000-x)$ earns $ 8\%$, which equals $\qquad $ $0.08(11,000-x)$ The sum of these amounts earned is ${{\$}} 730:$ $0.05x+0.08(11000-x)=730$ $0.05x+880-0.08x=730$ $-0.03x=730-880$ $-0.03x=-150 \qquad $ ... multiply with $-\displaystyle \frac{100}{3}$ $ x=5000$ So, ${{\$}} 5000$ was invested into the $ 5\%$ paying account, and ${{\$}} 6000$ was invested into the $ 8\%$ paying account.
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