SOLUTION: An investment of $4600 is made at an annual simple interest rate of 6.8%. How much additional money must be invested at an annual simple interest rate of 9% so that the total inter

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: An investment of $4600 is made at an annual simple interest rate of 6.8%. How much additional money must be invested at an annual simple interest rate of 9% so that the total inter      Log On


   

Question 902444: An investment of $4600 is made at an annual simple interest rate of 6.8%. How much additional money must be invested at an annual simple interest rate of 9% so that the total interest earned is 8% of the total investment?
Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
x+y=4600,
0.09*x+0.068*y=0.08*4600
0.09*x+0.068*y=368
x=4600-y
0.09*(4600-y)+0.068*y=368
414-0.09y+0.068*y=368
-0.022*y=-46
y=2090.90909 at 6.8%
x=4600-y
x=2509.09091 at 9%
check
0.09*2509.09091+0.068*2090.90909=0.08*4600
225.818182+142.181818=368
368.0=368
ok