SOLUTION: The annual interest on a $9000 investment exceeds the interest earned on a $6000 investment by $135. The $9000 is invested at a 0.5% higher rate of interest than the $6000. What

Question 899881: The annual interest on a $9000 investment exceeds the interest earned on a $6000 investment by $135. The $9000 is invested at a 0.5% higher rate of interest than the $6000. What is the interest rate of each investment?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!



Hi

9000r + 6000(r-.005) = 135

  r = (135+30)/15000)= .011  0r 1.100%, rate of $9000 investment

(r-.005) = 1.095%, rate of $6000 investment 

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