SOLUTION:
A $6000 investment at an annual simple interest rate of 3.3% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest.
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Question 703364:
A $6000 investment at an annual simple interest rate of 3.3% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
6000*.033=.055X
198=.055X
X=198/.055
X=$3600 AMOUNT INVESTED @ 5.5%.
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