document.write( "Question 767876: Mr. Smith invests $21,000 at 8% interest rate. How much more must he invest at 9.5% interest to have an annual income of 9% of his total investment? \n" ); document.write( "
Algebra.Com's Answer #467916 by reviewermath(1029)![]() ![]() You can put this solution on YOUR website! Q: \n" ); document.write( "Mr. Smith invests $21,000 at 8% interest rate. How much more must he invest at 9.5% interest to have an annual income of 9% of his total investment? \n" ); document.write( "--------------------------------------------------------------------------- \n" ); document.write( "Let x = amount Mr. Smith must invest at 9.5% interest \n" ); document.write( "0.08(21000) + 0.095x = 0.09(x + 21000) \n" ); document.write( "1680 + 0.095x = 0.09x + 1890 \n" ); document.write( "0.095x - 0.09x = 1890 - 1680 \n" ); document.write( "0.005x = 210 \n" ); document.write( "x = 210/0.005 \n" ); document.write( "x = 42000 \n" ); document.write( "Answer: $ |