Question

Suppose 10,000 is invested at 6 percent.how much additional money must be invested at 8 percent to produce a yield on the entire amount invested of 7.2 percent. ( Please show each and every steps of this math with the rough works) THANK YOU SO MUCH.

Answer 1

add up the interest on each part. It must equal the total interest.

.06(10000) + .08x = .072(10000+x)
x = 15,000

Note that 7.2% is 3/5 of the way from 6% to 8%, and 15000 is 3/5 of the total 25000.

Answer 2

thank you Steve u r genious :)

Answer 3

AND, I can spell GENIUS!