SOLUTION: Sarah has $2000 more invested at 8.5% than she does at 9.75%. Both investments are simple interest rates. If the annual return from each investment is the same, how much is investe
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Question 456727: Sarah has $2000 more invested at 8.5% than she does at 9.75%. Both investments are simple interest rates. If the annual return from each investment is the same, how much is invested at each rate?
(I know how to calculate if given the return. However, without return I'm confused. I attempted plugging the number 2 - as both returns are the same - in on the other side of the equation but that didn't work).
Thanks. Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! Sarah has $2000 more invested at 8.5% than she does at 9.75%.
Both investments are simple interest rates.
If the annual return from each investment is the same, how much is invested at each rate?
:
Let x = amt invested at 9.75%
then
(x+2000) = amt invested at 8.5%
:
.0975x = .085(x+2000)
solve for x
