Problema Solution
A women invested $20,000 at 8%. What additional amount must she invest at 6% so that her annual income is $2,200?
Answer provided by our tutors
.06x+.05(20,000-x)=1,060
.06x+1,000-.05x=1,060
.01x=1,060-1,000
.01x=60
x=60/.01
x=6,000 invested @ 6%
20,000-6,000=14,000 invested @ 55
Proof:
.06*6,000+.05*14,000=1,060
360+700=1,060
1,060=1,060