SOLUTION: A professor wants to supplement her pension with investment interest. If she invests $28,000 at 7% interest, how much more would she have to invest at 8% to achieve a goal of $4,20
Question 1135080: A professor wants to supplement her pension with investment interest. If she invests $28,000 at 7% interest, how much more would she have to invest at 8% to achieve a goal of $4,200 per year in supplemental income? Answer by ikleyn(52790) (Show Source): You can put this solution on YOUR website! .
She should invest at 8% the amount
= 28000 dollars,
which is precisely THE SAME AMOUNT as she invested at 7%. ANSWERCHECK. 0.07*28000 + 0.08*28000 = 4200 dollars. ! The answer is correct !