If $5700 is invested at a 5% annual simple interest, how much should be invested at 9% annual simple interest so that the total yearly income from both investments is $1077?

Question

Mathematics

Homer

5 January, 18:47

If $5700 is invested at a 5% annual simple interest, how much should be invested at 9% annual simple interest so that the total yearly income from both investments is $1077?

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Answers (1)

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Kibbles · Answer 1

Firstly we need to find out how much is 5% from $5700:

5700 * 5% =

= 5700 * 5/100 =

= 57 * 5 =

= 285

$1077 - $285 = $792

So now we need to find out how much should be invested at 9% annual simple interest to earn $792.

792 = 9% from x

792 = 9/100 x / * 100 (both sides)

79200 = 9x / : 9 (both sides)

x = 8800

Answer: When investing $5700 at 5% annual simple interest, also $8800 at 9% annual simple interest should be invested to have the total yearly income of $1077.