document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=744109>Question 744109</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A professor wants to supplement her pension with investment interest. If she invests $31,000 at 6% interest, how much more would she have to invest at 7% to achieve a goal of $2,700 per year in supplemental income? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #453192 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=453192\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A professor wants to supplement her pension with investment interest. If she invests $31,000 at 6% interest, how much more would she have to invest at 7% to achieve a goal of $2,700 per year in supplemental income?<BR>\n" );
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document.write( "I(t) = Prt<BR>\n" );
document.write( "Initial interest: 0.06*31000 = 1860<BR>\n" );
document.write( "Needed interest: 2700-1860 = 840<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Additional investment:<BR>\n" );
document.write( "0.07x = 840<BR>\n" );
document.write( "x = 840/0.07<BR>\n" );
document.write( "x = $12,000<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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