Solve the problem.
-Helen Weller invested $14,000 in an account that pays 12% simple interest. How much additional money must be invested in an account that pays 15% simple interest so that the average return on The two investments amounts to 13%?
A)$7000
B)$10,000
C)$11,000
D)$14,000

Question

Quizplus · Accepted Answer

The average return on the two investments is 13%. So, the total interest earned from both investments should be 13% of the total amount invested.The interest earned from the first investment is 12% of $14,000 = $1,680.Let x be the amount invested in the second account. The interest earned from the second investment is 15% of x = 0.15x.The total interest earned from both investments is $1,680 + 0.15x.The total amount invested is $14,000 + x.So, we have the equation:($1,680 + 0.15x) / ($14,000 + x) = 0.13Solving for x, we get:x = $10,000

Solve the Problem. -Helen Weller Invested $14,000 in an Account That Pays 12