Homework Help: math

Posted by devin on Wednesday, January 23, 2013 at 3:16am.

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.

math - bobpursley, Wednesday, January 23, 2013 at 6:25am
500=8000*.06+M*.08
solve for M.

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