SOLUTION: The annual interest on a $9000 investment exceeds the interest earned on a $6000 investment by $135. The $9000 is invested at a 0.5% higher rate of interest than the $6000. What

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: The annual interest on a $9000 investment exceeds the interest earned on a $6000 investment by $135. The $9000 is invested at a 0.5% higher rate of interest than the $6000. What       Log On

Hi

9000r + 6000(r-.005) = 135

  r = (135+30)/15000)= .011  0r 1.100%, rate of $9000 investment

(r-.005) = 1.095%, rate of $6000 investment