Problema Solution
if a man invests $8,900 at 5.5% annual interest how much more must he invest at 8.75% so that his annual income will be than $1,500?
Answer provided by our tutors
$8,900 x .055 = $489.5
We want $1,500 - $489.5 = $x * .0875
(1,500 - 489.5)/.0875 = x = $11,548.5.