SOLUTION: Can you solve the following problem: "Sponge Bob needs to make $1000 interest by investing $15,000. Some will be invested at 4% and the rest at 7%. How much should he invest at eac
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Question 672095: Can you solve the following problem: "Sponge Bob needs to make $1000 interest by investing $15,000. Some will be invested at 4% and the rest at 7%. How much should he invest at each rate?" My son was given this on an Algebra worksheet. He has other similar problems. I would like to see all the work so that we may solve the other problems. Thank you, Cyndi Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! I will assume that the investments are for 1 year.
Let = the amount invest at 4%
Then will be the amount invested at 7%
He should invest $1,666.67 @4% and
$13,333.33 @ 7%
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OK
