Question

After inheriting some money, a woman wants to invest enough to have an annual income of $5,000. if she can invest $20,000 at 9% annual interest, how much more will she have to invest at 6% to achieve her goal

Answer 1

Hi there

20000×0.09+0.06x=5000
Where x is the amount invested at 6%
Solve for x
1800+0.06x=5000
0.06x=5000-1800
0.06x=3200
X=3200÷0.06
X=53333.33....answer

Good luck!