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Solution: How much should she invest in 6.25% if she wants an annual profit of $937.50?

How much should she invest in 6.25% if she wants an annual profit of $937.50?

Problem Statement:

Linda has $16,000 to invest. Part of her money is invested with a bond of 5% and 6.25%. How much should she invest in 6.25% if she wants an annual profit of $937.50?

Problem Answer:

She should invest $11,000 in 6.25% if she wants an annual profit of $937.50.

Solution:

Latest Problem Solving in Clock, Variation, Progression and Miscelaneous Problems

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