SOLUTION: Suppose that Annette invests $7000 at 7%. How much must she invest at 11% so that the total yearly interest from the two investments exceeds $974?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Suppose that Annette invests $7000 at 7%. How much must she invest at 11% so that the total yearly interest from the two investments exceeds $974?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 563840: Suppose that Annette invests $7000 at 7%. How much must she invest at 11% so that the total yearly interest from the two investments exceeds $974?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
let her invest $x @ 11%
7000 @ 7%
Interest =974
0.11x+0.07*7000=974
multiply by 100
11x+49000=974*100
11x= 97400-49000
11x=48400
x=4400 @ 11%