Mrs. martinez has $10,000 to invest.One bank offers her a return of 7.5% on the whole sum. Another bank offers her a return of 8% on part of the sum, and 6% on the rest of the sum. How much of the $10,000 would need to be invested at 8% at the second bank, for the overall to be the same as at the first bank?

Question

Steve · Answer

we want to know when .075*10000 = .08x + .06(10000-x) x = 7500

h · Answer

.075*10000 = .08x + .06(10000-x) x = 7500 ------ .075*10000 = .08*7500 + .06(10000-7500) .075*10000 = 600 + .06(2500) .075*10000 = 600 + 150 .075*10000 = 750 750$