SOLUTION: An investment of $4500 is made at an annual simple interest rate of 4.8%. How much additional money must be invested at an annual simple rate of 7% so that the total annual interes
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Question 201457: An investment of $4500 is made at an annual simple interest rate of 4.8%. How much additional money must be invested at an annual simple rate of 7% so that the total annual interest earned will be 6% of the total investment? Answer by rfer(16322) (Show Source):
You can put this solution on YOUR website! .048(4500)+.07x=(4500+x).06
216+.07x=270+.06x
.01x=54
x=5400
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5400*.07=378
4500*.048=216
9900*.06=594
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