Cindy has $70,000 to invest and requires an overall rate of return of 9%. Sheinvests her money in one account at 8% while another in an account paying 12%.How much should be placed in each investment to achieve her goal? I understand I=PRT, but I can't seem to get to an equation that I can comprehend.
Cindy has $70,000 to invest and requires an overall rate of return of 9%. Sheinvests her money in one account at 8% while another in an account paying 12%.How much should be placed in each investment to achieve her goal? I understand I=PRT, but I can't seem to get to an equation that I can comprehend.
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Systems Of Equations
Section11.CR: Review Problem Set
Problem 36CR: Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6...
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Cindy has $70,000 to invest and requires an overall rate of return of 9%. She
invests her money in one account at 8% while another in an account paying 12%.
How much should be placed in each investment to achieve her goal?
I understand I=PRT, but I can't seem to get to an equation that I can comprehend.
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