Question 516249: I made it through 25 other questions but this one stumped me: A teacher has a choice of two investment plans: an insured fund that has an average of 11% interest per year, or a riskier investment that has an average 13% return. If the same amount invested at the higher rate would generate an extra $100 per year, how much does the teacher have to invest?
Answer by mananth(16946)   (Show Source):
You can put this solution on YOUR website! A teacher has a choice of two investment plans: an insured fund that has an average of 11% interest per year, or a riskier investment that has an average 13% return. If the same amount invested at the higher rate would generate an extra $100 per year, how much does the teacher have to invest?
13%x-11%x=100
multiply by 100
13x-11x=100*100
2x=10,000
x=5000
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