SOLUTION: A lady has 10000$ to invest. She invests 4000$ at 6% and 3500$ at 9%. At what rate should she invest the remainder in order to have an yearly income of 800$ in?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: A lady has 10000$ to invest. She invests 4000$ at 6% and 3500$ at 9%. At what rate should she invest the remainder in order to have an yearly income of 800$ in?
Log On
Question 927813: A lady has 10000$ to invest. She invests 4000$ at 6% and 3500$ at 9%. At what rate should she invest the remainder in order to have an yearly income of 800$ in? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A lady has 10000$ to invest. She invests 4000$ at 6% and 3500$ at 9%. At what rate should she invest the remainder in order to have an yearly income of 800$ in?
-----------------
Equation:
0.06*4000 + 0.09*3500 + x*2500 = 800
------
6*4000 + 9*3500 + x*250000 = 80000
--------------------------------------
24000 + 31500 + 250000x = 80000
--------------------
240 + 315 + 2500x = 800
2500x = 800-545
2500x = 255
x = 0.102
x = 10.2%
-----------------
Cheers,
Stan H.
----------------
(