SOLUTION: I know that I=prt but I have no idea where to start with this word problem. If $2000 is invested at 8%, how much money must be invested at 11% interest so that the total return for
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Question 723969: I know that I=prt but I have no idea where to start with this word problem. If $2000 is invested at 8%, how much money must be invested at 11% interest so that the total return for both investments averages 10%?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount to be invested @ 11%
given:
$4,000 must be invested @ 11%
check:
OK
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