Question

Hi i am just going over the investment word problems in purple math...does anyone have th answers for the additional examples?

Answer 1

post the problem on which you want clarification.

Answer 2

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

Answer 3

"annual simple interest rate" means we can use
rate * time* principal=amount formula

(x*.09*1)+(3,000 * .05*1)=(3000+x)*(.075)

Answer 4

solve for x

Answer 5

i got 500....

Answer 6

close , it is 5000

Answer 7

(x*.09*1)+(3,000 * .05*1)=(3000+x)*(.075)
.09x+150=225+0.075x

Answer 8

oh yeah i see the mistake....thank you!

Answer 9

my mistake

Answer 10

thank you!