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17 August, 09:39

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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  1. 17 August, 09:46
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    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.
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