SOLUTION: Solve the problem. Helen Weller invested $15,000 in an account that pays 12% simple interest. How much additional money must be invested in an account that pays 15% simple interest
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Question 170347This question is from textbook Introductory Algebra
: Solve the problem. Helen Weller invested $15,000 in an account that pays 12% simple interest. How much additional money must be invested in an account that pays 15% simple interest so that the total interest is equal to the interest on the two investments at the rate of 13%?
This question is from textbook Introductory Algebra
Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
lets call amount invested at 15%, x. so
:
15000(.12)+x(.15)=(15000+x).13
:
1800+.15x=1950+.13x
:
.02x=150
:
dollars...amount invested at 15%
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