SOLUTION: Suppose you invest $15000 at 6%. How much additional money should you invest at 4% to produce a yield of 5.5% on the entire amount invested?

Question 907477: Suppose you invest $15000 at 6%. How much additional money should you invest at 4% to produce a yield of 5.5% on the entire amount invested?

Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
one investment all 3 rates
0.06*15000+0.04(x)=0.055(15000+x)
Multiply out.
900+0.04(x)=825.0+0.055x
combine like terms
-0.015x=-75.0
isolate x
x=-75.0/-0.015
Divide
x=5000.0
check
0.06*15000+0.04(x)=0.055(15000+x)
900+0.04*5000=0.055(15000+5000)
900+200=0.055(20000)
1100=1100.0
ok

RELATED QUESTIONS
what is the solution of this? you want to invest $ 15000. if a part is invested at 5.5%... (answered by richwmiller)

suppose 20,000 is invested at 5 % . How much additional money must be invested at 4 % to... (answered by jim_thompson5910)

Billy wants to invest 15000$, some at 5% and the rest at 10% interest. If he wants 8%... (answered by richwmiller)

You received a year-end bonus of $17000 and invested it at 6.5%. How much additional... (answered by 24HoursTutor.com)

Mike has $15000 to invest, part at 5% and part at 8%. He wants the income from simple... (answered by ikleyn)

suppose you have $12,000 to invest. if part is invested at 10% and the rest at 15%, how... (answered by Boreal)

Mutual Funds Suppose that in a certain year, the Phoenix/Zweig Advisors Zweig Total... (answered by Theo)

If Ben invest $40,000 at 4% interest per year, how much additional money must he invest... (answered by lwsshak3)

Write an equation representing each sentence: 1. Suppose you have Php 1 000 000 to... (answered by Boreal)