SOLUTION: The amount of annual interest earned by $7,000 invested at a certain rate is $210 less than $11,000 would earn at a 1% lower rate. At what rate is the $7,000 invested?

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Question 1066579: The amount of annual interest earned by $7,000 invested at a certain rate is $210 less than $11,000 would earn at a 1% lower rate. At what rate is the $7,000 invested?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
The amount of annual interest earned by $7,000 invested at a certain rate is $210 less than $11,000 would earn at a 1% lower rate. At what rate is the $7,000 invested?
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Equation::
7000*x = 0.01*11000 - 210
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7000x = 110 - 210
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x = -100/7000
Note: The rate of investment cannot be negative.
Please check the wording of your problem or your post.
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Cheers,
Stan H.
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