Financial mixture problems

Question

Sally has $160,000 invested in an account that pays 5.5% interest. How much would she need to invest in an account that pays 6.7% interest to raise her combined yield to 6.2%?

Answer 1

LEX, I hope I'm not too late!

 

If z = how much she has to invest in the higher interest account, then...

 

160,000(.055) + .067x = .062(160,000 + x)

 

I bet you can solve it from here!