SOLUTION: If $5000 is invested in a bank that pays 5% interest, how much more must be invested in bonds at 8% to earn 6% on the total investment.

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Question 210704This question is from textbook College Algebra
: If $5000 is invested in a bank that pays 5% interest, how much more must be invested in bonds at 8% to earn 6% on the total investment. This question is from textbook College Algebra

Answer by Earlsdon(6294) About Me  (Show Source):
You can put this solution on YOUR website!
Let x = the additional amount to be invested in bonds at 8%.
5000%280.05%29%2Bx%280.08%29+=+%285000%2Bx%29%280.06%29
250%2B0.08x+=+300%2B0.06x Subtract 0.06x from both sides.
250%2B0.02x+=+300 Subtract 250 from both sides.
0.02x+=+50 Divide both sides by 0.02
x+=+2500
$2500 more must be invested in bonds at 8%.