SOLUTION: Please help me solve this word problem. A college professor wants to supplement her retirement income with investment interest. If she invests $15,000 at 6% annual interest, how mu
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Question 906026: Please help me solve this word problem. A college professor wants to supplement her retirement income with investment interest. If she invests $15,000 at 6% annual interest, how much more would she have to invest at 7% to achieve a goal of $1,250 in supplemental income?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
.06*15000+.07*x=1250
900+.07*x=1250
.07*x=350
x=350/.07
x=5000
check
.06*15000+.07*5000=1250
900+350=1250
1250=1250
ok
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