SOLUTION: An investment of $5000 is made at an annual simple interest rate of 5.3%. How much additional money must be invested at an annual simple interest rate of 8.5% so that the total int
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Question 112469: An investment of $5000 is made at an annual simple interest rate of 5.3%. How much additional money must be invested at an annual simple interest rate of 8.5% so that the total interest earned is 6.5% of the total investment? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! An investment of $5000 is made at an annual simple interest rate of 5.3%. How much additional money must be invested at an annual simple interest rate of 8.5% so that the total interest earned is 6.5% of the total investment?
:
Let x = additional amt invested at 8.5%
Therefore:
The resulting amt = (x+5000)
:
The interest equation:
.053(5000) + .085x = .065(x + 5000)
:
Can you solve this now?
