Lucy S.

asked • 08/26/12

Retirement problem.

A professor wants to supplement her pension with investment interest. If she invests $28,000 at 6% annual simple interest, how much would she have to invest at 7% annual simple interest to achieve a goal of $3,500 per year in supplemental income?

1 Expert Answer

By:

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.