Kenneth S. answered • 07/26/16

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Expert Help in Algebra/Trig/(Pre)calculus to Guarantee Success in 2018

You've submitted several similar problems; I'll do one & hope that what I provide can be helpful to you in solving others. Interest on the 160K is 0.055(160,000) = $8,800 = I

_{1}.I guess she has OTHER MONEY (amt. x) available to invest at 6.7% (assuming 1 yr); this interest I

_{2}is 0.067x.Her combined money is supposed to earn I

_{1}+ I_{2}:(160,000 + x) (0.062) = 8800 + 0.067(x).

You can solve this for x, the amount of additional money to invest at 6.7% in order to increase her combined yield to 6.2%.

**This method is based upon my reading of the problem, which does not say take some of the 160K out and invest it in another account.**