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How much money should invest at annual simple interest rate

An investment club invested $9000 at 7.4% annual simple interest. How much additional money should they invest at an annual simple interest rate of 4.0% so that the total annual interest earned from the two accounts is 6.2% of the total investmant?

a) $876.11
b) $4500.00
c) $2475.00
d) $36,818.18

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Solution Preview :

Prepared by a verified Expert

Mathematics: How much money should invest at annual simple interest rate

Reference No:- TGS0698186

Have a Question? (oR Write a Review)

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Solution Preview :

Prepared by a verified Expert

Mathematics: How much money should invest at annual simple interest rate

Reference No:- TGS0698186

Recent Questions Asked Mathematics

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