SOLUTION: Can someone please help me with this word problem? This is the problem; A professor invests $15000 at 6%. How much should he invest at 7% in order to earn $1250 in total interest f
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Question 714248: Can someone please help me with this word problem? This is the problem; A professor invests $15000 at 6%. How much should he invest at 7% in order to earn $1250 in total interest for the year?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
For the investment @ 6%, he earned
He wants to earn $1250 total interest
--------
Let = the amount that he must invest @7%
in order to earn $350
He must invest $5,000 @ 7%
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