Question 218111: I can not figure out how to set this problem up. I have tried to solve it multiple times. Here is the question:
How can $4,000.00 be invested, part at 6% and the remainder at 10% so that the two investments will produce the same interest?
Thank you for your help.
Mandy
Found 2 solutions by rfer, MathTherapy:
Answer by rfer(16322)   (Show Source):
Answer by MathTherapy(10552)  (Show Source):
You can put this solution on YOUR website! I can not figure out how to set this problem up. I have tried to solve it multiple times. Here is the question:
How can $4,000.00 be invested, part at 6% and the remainder at 10% so that the two investments will produce the same interest?
Thank you for your help.
Mandy
Let the amount invested at 6% be S. Then the amount invested at 10% = 4,000 - S
Since the interest amounts earned from both investments are equal, then we'll have:
.06S = .1(4,000 - S)
.06S = 400 - .1S
.06S + .1S = 400
.16S = 400
Therefore, amount invested at S, or 6% =  , and the amount invested at 10% =  , calculated as $4,000 - $2,500.
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Check
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2,500 * .06 = $150
1,500 * .1 = $150
Both interest amounts are the same.
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