SOLUTION: Can someone please help me with this word problem? This is the problem; A professor invests $15000 at 6%. How much should he invest at 7% in order to earn $1250 in total interest f

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Can someone please help me with this word problem? This is the problem; A professor invests $15000 at 6%. How much should he invest at 7% in order to earn $1250 in total interest f      Log On


   

Question 714248: Can someone please help me with this word problem? This is the problem; A professor invests $15000 at 6%. How much should he invest at 7% in order to earn $1250 in total interest for the year?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
For the investment @ 6%, he earned
+.06%2A15000+=+900+
He wants to earn $1250 total interest
+1250+-+900+=+350+
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Let +x+ = the amount that he must invest @7%
in order to earn $350
+.07x+=+350+
+x+=+350+%2F+.07+
+x=+5000+
He must invest $5,000 @ 7%