SOLUTION: If Fran invests $8200 at 6% per year, how much additional money must she invest at 8% to ensure that the interest she receives each year is 7% of the total investment.

Question 211303This question is from textbook College Algebre
: If Fran invests $8200 at 6% per year, how much additional money must she invest at 8% to ensure that the interest she receives each year is 7% of the total investment. This question is from textbook College Algebre

Answer by plydry28(2) (Show Source): You can put this solution on YOUR website!
She must invest 8200 dollars so that she can earn 7 percent on the total investment. 8200 at 6 percent 492 dollars. 8200*.06=492. 8200 at 8 percent is 656 dollars. If you add 656 with 492 you get the total amount that is earned in interest. This is 1148 dollars which is 7 percent of 16400. 16400*.07=1148.
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