Inactive Tutor answered 06/02/21
.085(x) = .0975(x-2000)
.085x = .0975x - 195
.0125x = 195
x/80 = 195
x = 80(195) = 15600
x = 195/.0125 = $15,600 invested at 8.5%
x-2000 = $13,600 invested at 9.75%
.085(15600) = .0975(13,600)
1326 = 1326
Sara D.
asked 06/02/21Sarah has $2000 more invested at 8.5% than she does at 9.75%. Both investments are at simple interest rates. If the annual return from each investment is the same, how much is invested at each rate?
Inactive Tutor answered 06/02/21
.085(x) = .0975(x-2000)
.085x = .0975x - 195
.0125x = 195
x/80 = 195
x = 80(195) = 15600
x = 195/.0125 = $15,600 invested at 8.5%
x-2000 = $13,600 invested at 9.75%
.085(15600) = .0975(13,600)
1326 = 1326
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