Invest money

Question

Lindsay plans to invest some money at 6% and $2000 more than this amount at 7%. To earn $790 per year in interest , how minch should she invest at each rate?

Answer 1

Hi Alexandra,

 

 

        Invest money
Lindsay plans to invest some money at 6% and $2000 more than this amount at 7%. To earn $790 per year in interest , how minch should she invest at each rate?

 

Let x=the first amount of money invested

let (x+2000)= the 2nd amount of money invested

 

.06x+.07(x+2000)=790

.06x+.07x+140=790

.13x+140=790

.13x=650

x=5000

 

ANSWER:  Lindsay should invest $5000 at 6%  and $7000 at 7%.