SOLUTION: Hi, I'm trying to write an equation to solve this problem and running into difficulty: I have 300000 to invest. A safe investment earns 3.5% per year. A risky investment yields

Question 1043568: Hi, I'm trying to write an equation to solve this problem and running into difficulty:
I have 300000 to invest. A safe investment earns 3.5% per year. A risky investment yields 7% a year. How much is needed to be invested at each rate to earn $15,000 per year.
I'm certain it has something to do with the simple interest formula but I just can't make this work. I get that SI=prt, but I can't work out beyond that.

Answer by josgarithmetic(39617) (Show Source): You can put this solution on YOUR website!
(How many years?) The wording implies just 1 year.

The description works like a mixture problem.

x amount for risky
y amount for safe

STEPS

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