SOLUTION: Helen Weller invested $13,000 in an account that pays 11% simple interest. How much additional money must be invested in an account that pays 14% simple interest so that the averag
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Question 935471: Helen Weller invested $13,000 in an account that pays 11% simple interest. How much additional money must be invested in an account that pays 14% simple interest so that the average return on the two investments amounts to 12%? Answer by lwsshak3(11628) (Show Source):
You can put this solution on YOUR website! Helen Weller invested $13,000 in an account that pays 11% simple interest. How much additional money must be invested in an account that pays 14% simple interest so that the average return on the two investments amounts to 12%?
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let x=additional money that must be invested
..
11%*13000+14%x=12%(13000+x)
1430+.14x=1560+.12x
.02x=130
x=6500
additional money that must be invested: $6500
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