SOLUTION: Lynn wishes to realize a return of 11% on her investments. If she has $10,000 invested at 9%, how much additional money should she invest at 15%? Show work.
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Lynn wishes to realize a return of 11% on her investments. If she has $10,000 invested at 9%, how much additional money should she invest at 15%? Show work.
Log On
Question 265796: Lynn wishes to realize a return of 11% on her investments. If she has $10,000 invested at 9%, how much additional money should she invest at 15%? Show work. Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! Lynn wishes to realize a return of 11% on her investments.
If she has $10,000 invested at 9%, how much additional money should she invest at 15%?
:
Let x = amt invested at 15%
:
.09(10000) + .15x = .11(x + 10000)
900 + .15x = .11x + 1100
.15x - .11x = 1100 - 900
.04x = 200
x =
x = $5000 needs to be added at 15%
:
:
Check solution
900 + .15(5000) = .11(5000+ 10000)
900 + 750 = .11(15000)
1650 = 1650
