Asked by HELP NEED HELPs!!!!
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.
Answers
Answered by
Steve
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.
.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.
Answered by
HELP NEED HELPs!!!!
thank you Steve u r genious :)
Answered by
Steve
AND, I can spell GENIUS!
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