math algebra

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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?

  • math algebra -

    we want to know when

    .075*10000 = .08x + .06(10000-x)
    x = 7500

  • math algebra -

    .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$

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