Question 1027357: An investment of $3,000 is made at an annual simple interest of 5%. How much additional money must be invested at an annual simple interest rate of 8%, so that the total annual interest earned is 7.5 of the original amount that you invested?
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! the original amount you invested is 3000.
7.5 * 3000 = 22,500
5% of 3000 = .05 * 3000 = 150.
the additional amount invested at 8% must be able to give you 22,000 - 150 = 22,350.
let x equal that amount.
formula becomes x * .08 = 22,350.
divide both sides of this equation by .08 to get x = 22,350/.08 = 279,375.
that's how much you would need to invest at 8% in order to get interest of 22,350.
the interest of 22,350 plus the interest of 150 is equal to 22,500 which is 7.5 * the original investment of 3000.
i'm not exactly sure this is what you meant, but, based on what i think you meant, this is the solution.
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