SOLUTION: Jake receives a paycheck of $1500 per month from which he invests $35 each month. He gets a raise that increases his pay to $1800 per month. To stay at the same rate of investment,
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Question 1103085: Jake receives a paycheck of $1500 per month from which he invests $35 each month. He gets a raise that increases his pay to $1800 per month. To stay at the same rate of investment, how much should he invest after the raise? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! His first rate of investment is:
2.333 %
Let = amount he should invest
after the raise
He should now invest $42/mo.
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check:
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