math

posted by .

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 -

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

  • math -

    2500

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    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?
  2. math

    a formula for calculating simple interest is I = Pr, were I is the interest earned in dollars, P is the principal or original investment, and r is the fixed rate of interest. If the amount of interest earned is $2.25 and the interest …
  3. algebra

    An investment of $4600 is made at an annual simple interest rate of 6.8%. How much additional money must be invested at an annual simple interest rate of 9% so that the total interest earned is 8% of the total investment?
  4. simple interest

    a student borrow $12000 at a simple interest rate 4.5% how much interest is owed at the end of 5 years what amount of money must be repaid
  5. Mathematics of INVESTMENT

    Q: Ms. Parker deposits $8000 in one simple interest account and $2000 in a second simple interest account. The interest rate on the $8000 account is 2% more than the rate on the $2000 account. If the total yearly amount of interest …
  6. Math

    An investment of $3,000 is made at an annual simple interest of 5%. How much additional monery must be invested at an annual simple interest rate of 8% so that the total annual interest earned is 7.5 of te original amount that you …
  7. simple interest

    A total of $8000 is deposited into two simple interest accounts. On one account, the annual interest rate is 10%, while on the second account the annual simple interest rate is 12%. How much should be invested in the 10% account so …
  8. math

    An investment of $3,000 is made at an annual simple interest of 5%. How much additional money must be invested at an annual simple interest rate of 8%, so that the total annual interest earned is 7.5 of the original amount that you …
  9. math

    How much money must Andrea invest for 2 years in an account that earns an annual simple interest rate of 8% if she wants to earn $500 from the investment?
  10. financial - simple interest

    rate principal time S interest investment A rA $8000 4yrs SI A investment B rB $7000 5yrs SI B It is known that rA : rB = 2 : 3 and that investment B earned $2000 more interest than investment A. Find the values of rA, rB, SI A and …

More Similar Questions