Marguerite inherited $95,000 and invested part of it in her retirement account and donated the rest

Algebra
Tutor: None Selected Time limit: 1 Day

Marguerite inherited $95,000 and invested part of it in her retirement account and donated the rest to a local soup kitchen.  The amount of the investment was $2000 less than four times the amount of the donation.  How much did Marguerite invest in her retirement account and how much did she donate to the soup kitchen? Write an equation to solve this problem, show all work, and include units in your answer.

Oct 12th, 2015

Thank you for the opportunity to help you with your question!

let the amount donated be $x

amount invested = $4x-$ 2000

amount donated + amount invested = total amount inherited

$x+ $4x-2000 = 95000

4x+x= 95000+ 2000

5x = 97000

x= 97000/5

x= $19,400

amount donated = $19,400

amount invested = $19,400 * 4 - 2000

= $ 75,600

Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 12th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Oct 12th, 2015
...
Oct 12th, 2015
May 23rd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer