SOLUTION: Mr. McTier invests $600 at 9% per year, and $800 at 12% per year. During what time period will the $1,400 earn between $525 and $975, inclusive, in simple interest?
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Question 447458: Mr. McTier invests $600 at 9% per year, and $800 at 12% per year. During what time period will the $1,400 earn between $525 and $975, inclusive, in simple interest? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! 800@12%= $96
600@9%=$54
96+54=150 per year from $1400
Let time be t
525<150t<975
525/150
3.5
between 3.5 to 6.5 years
