SOLUTION: Jake receives a paycheck of $1500 per month from which he invests $35 each month. He gets a raise that increases his pay to $1800 per month. To stay at the same rate of investment,

Question 1103085: Jake receives a paycheck of $1500 per month from which he invests $35 each month. He gets a raise that increases his pay to $1800 per month. To stay at the same rate of investment, how much should he invest after the raise?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
His first rate of investment is:

2.333 %
Let = amount he should invest
after the raise

He should now invest $42/mo.
-------------------------------
check:

OK

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