Homework Help: math

Posted by Marcela Minoza on Monday, September 3, 2012 at 7:39am.

An investment of $2500 is made at an annual interest rate of 5.5% .How much additional money must be invested at an annual simple interest rate of 8% so that the total interest earned is 7% of the total investment?

math - Steve, Monday, September 3, 2012 at 1:53pm
2500*.055 + x * .08 = (2500+x)*.07
x = 3750

check:

5.5% of 2500 = 137.50
8% of 3750 = 300.00

7% of 6250 = 437.50

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