document.write( "Question 817073: AMadge invested $2,500 at 8% interest for one year. She has an additional $8,000 to deposit. At what rate must she invest the $8,000 to end the year with a total balance of exactly $11,540? \n" ); document.write( "
Algebra.Com's Answer #491869 by mananth(16946)![]() ![]() You can put this solution on YOUR website! AMadge invested $2,500 at 8% interest for one year. She has an additional $8,000 to deposit. At what rate must she invest the $8,000 to end the year with a total balance of exactly $11,540?\r \n" ); document.write( "\n" ); document.write( "$2,500 at 8% \n" ); document.write( "8000@x%\r \n" ); document.write( "\n" ); document.write( "Balance = interest + investment\r \n" ); document.write( "\n" ); document.write( "investment = 8000+2500 = 10500\r \n" ); document.write( "\n" ); document.write( "Balance = 11540\r \n" ); document.write( "\n" ); document.write( "so she has to earn an interest of 11540-10500=1040\r \n" ); document.write( "\n" ); document.write( "Interest equation\r \n" ); document.write( "\n" ); document.write( "2500*8%+8000*x%= 1040\r \n" ); document.write( "\n" ); document.write( "200+80x=1040\r \n" ); document.write( "\n" ); document.write( "80x=1040-200\r \n" ); document.write( "\n" ); document.write( "80x=840 \n" ); document.write( "x=840/80 \n" ); document.write( "x=10.5%\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |