Raymond B. answered 05/03/22
Math, microeconomics or criminal justice
.08x + .07(20,000-x) = 1590
.08-.07x = 1590 -.07(20,000)
.01x = 1590 - 1400
.01x = 190
x = $19,000 invested at 8%
20,000-19000 = $1,000 invested at 7%
.08(19000) + .07(1000)
= 1520 +700
=1590
1590/20000
=159/2000
=.0795=7.95% average interest
7 is within .95 of 7.95
8 is within .05 of 7.95
95/5 = 19
amount invested at 8% should be 19 times as much as invested at 7%
$19,000 invested at 8%
$1,000 invested at 7%
19000/1000 = 19