SOLUTION: I am having a difficult time figuring out what to do with the X+4000 in this problem, any help with the right equation would be AMAZING. Thanks.
Paula invests some money at an i
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Paula invests some money at an i
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Question 832171: I am having a difficult time figuring out what to do with the X+4000 in this problem, any help with the right equation would be AMAZING. Thanks.
Paula invests some money at an interest rate of 11% and $4000 more than that at a rate of 6%. If the total interest for one year from both investments is $665, how much did she invest at 11%? Answer by JulietG(1812) (Show Source):
You can put this solution on YOUR website! Paula must have some wonderful information if she is getting an 11% return!
.
(x * 0.11) + [(x+4000)* .06] = 665
Distribute
0.11x + .06x + 240 = 665
Add
0.17x + 240 = 665
Subtract
0.17x = 425
Divide
x = 2500
.
Let's see if that's right.
2500 * .11 = 275
6500 * .06 = 390
Add them together to get $665
Success!
