SOLUTION: Juanita invested $13,000 for one year, part at 9 percent annual interest and the rest at 7 percent annual interest. How much must she invest at 9 percent to get $1,000 in interest
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Question 1051752: Juanita invested $13,000 for one year, part at 9 percent annual interest and the rest at 7 percent annual interest. How much must she invest at 9 percent to get $1,000 in interest in a year? Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let n be the amount Juanita invested at 9%. Then:
.09n+.07(13000-n)=1000
.02n=90
n=4500
Juanita needs to invest $4500 at 9%, and the rest at 7% to earn $1000 interest for the year. ☺☺☺☺
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