Ask a New Question

If Mark invests $8000 at 6% simple interest rate, how much money must he invest at an 8% simple interest rate in order for the interest on each investment to be $500. Assume that the amount of time for both investments is the same.

2 answers

500=8000*.06+M*.08
solve for M.

2500

Ask a New Question or answer this question.

Similar Questions

Serenity wants to invest $25,000 of her savings for her retirement fund. Determine the difference in interest earnings between a
1. 2 answers
Serenity wants to invest $25,000 of her savings for her retirement fund. Determine the difference in interest earnings between a
1. 1 answer
Serenity wants to invest $25,000 of her savings for her retirement fund. Determine the difference in interest earnings between a
1. 1 answer
Serenity wants to invest $25,000 of her savings for her retirement fund. Determine the difference in interest earnings between a
1. 1 answer

more similar questions