SOLUTION: An investment of $5000 is made at an annual simple interest rate of 5.3%. How much additional money must be invested at an annual simple interest rate of 8.5% so that the total int

Question 112469: An investment of $5000 is made at an annual simple interest rate of 5.3%. How much additional money must be invested at an annual simple interest rate of 8.5% so that the total interest earned is 6.5% of the total investment?
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
An investment of $5000 is made at an annual simple interest rate of 5.3%. How much additional money must be invested at an annual simple interest rate of 8.5% so that the total interest earned is 6.5% of the total investment?
:
Let x = additional amt invested at 8.5%
Therefore:
The resulting amt = (x+5000)
:
The interest equation:
.053(5000) + .085x = .065(x + 5000)
:
Can you solve this now?
RELATED QUESTIONS
An investmest of $5600 is made at an annual simple interest of 6.5%. How much additional... (answered by stanbon)

An investment of $3,000 is made at an annual simple interest of 5%. How much additional... (answered by Theo)

An investment club invested $5000 at an annual simple interest rate of 8.4%. How much... (answered by rfer)

An investment of $4500 is made at an annual simple interest rate of 4.8%. How much... (answered by rfer)

An investment of $4600 is made at an annual simple interest rate of 6.8%. How much... (answered by checkley77)

2. An investment of $5500 is made at an annual simple interest rate of 4.9%. How much... (answered by pinklipgloss2007,stanbon,richwmiller)

An investment of $4500 is made at an annual simple interest rate of 9.25%. How much... (answered by mananth)

An investment of $4600 is made at an annual simple interest rate of 6.8%. How much... (answered by richwmiller)

An investment of $2000 is made at an annual simple interest rate of 5.5%. How much... (answered by richwmiller)