SOLUTION: $5000 is invested at 6%. How much more invested at 9.5% will give a total annual interest equivalent to 7%?

SOLUTION: $5000 is invested at 6%. How much more invested at 9.5% will give a total annual interest equivalent to 7%?

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Question 990629: $5000 is invested at 6%. How much more invested at 9.5% will give a total annual interest equivalent to 7%?
Answer by anand429(138) (Show Source): You can put this solution on YOUR website!
Let investment at 9.5% = x,
Total return =
= -----------------------(i)
Now for equivalent interest of 7%
Interest will be --------(ii)
Equating (i) and (ii),

=>
=>
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