SOLUTION: If Fran invests $8200 at 6% per year, how much additional money must she invest at 8% to ensure that the interest she receives each year is 7% of the total investment.

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Question 211311This question is from textbook College Algebra
: If Fran invests $8200 at 6% per year, how much additional money must she invest at 8% to ensure that the interest she receives each year is 7% of the total investment. This question is from textbook College Algebra

Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.06*8,200+.08X=.07(8,200+X)
492+.08X=574+.07X
.08X-.07X=574-492
.01X=82
X=82/.01
X=8,200 IS THE ADDITIONAL INVESTMENT NEEDED @ 8% TO GET THE 7% ON THE TOTAL INVESTMENT.
PROOF:
.06*8,200+.08*8,200=.07(8,200+8,200)
492+656=.07*16,400
1,148=1,148