SOLUTION: ms.berger has two investments. one has 8% annual interest rat, and the other investment has 9.5%. she invests 37,000, part at 8% and the rest at 9.5% annual interest rate. the 9.5%
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Question 252753: ms.berger has two investments. one has 8% annual interest rat, and the other investment has 9.5%. she invests 37,000, part at 8% and the rest at 9.5% annual interest rate. the 9.5% investment provides $452.5 more income than 8% investment. how much is invested at each rate? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! ms.berger has two investments. one has 8% annual interest rat, and the other investment has 9.5%.
she invests 37,000, part at 8% and the rest at 9.5% annual interest rate.
the 9.5% investment provides $452.5 more income than 8% investment.
how much is invested at each rate?
:
Let x = amt invested at 9.5%
The total was given as 37000, therefore
(37000-x) = amt invested at 8%
:
Int at 9.5% - Int at 8% = $452.5
.095x - .08(37000-x) = 452.50
.095x - 2960 + .08x = 452.50
.095x + .08x = 452.50 + 2960
.175x = 3412.5
x =
x = $19,500 invested at 9.5%
:
I'll let you find how much invested at 8%
