The answer in fraction form is 1/27
x = 1/27
Invested at 7%: s
Invested at 5.5%: f
Then s+f=$15000, or f= $15000-s
Then add together the 2 interest amounts:
i = s(0.07) at 7%
i = f(0.055) at 5.5%
Then 0.07s + (15000-s)(0.055) = $952.50
Solve this for s, the amt. invested at 7%:
0.07s + 15000(0.055) - 0.055s = 952.50
Combining the s terms,
0.015s = 952.50-825
952.50-825
Then s = ------------------- = 8500
0.015
Ruth invests $8500 at 7% and $6500 at 5.5%.
Answer:
4.6
Step-by-step explanation:
