In order for the two investments to yield at least $1550, the remainder of the money has to earn an interest of 7%.
<h3 /><h3>Equation that can be derived from the question</h3>
The formula that can be used to determine simple interest is: principal x time x interest rate.
0.12(10,000) + x($5000) = $1550
$1,200 + 5000x = $1550
Where:
x = interest rate paid in the account where $5000 was deposited.
<h3>Determination of the interest rate</h3>
In the above equation, combine similar terms:
$5000x = $1550 - $1200
Add similar terms together
$5000x = $350
Divide both sides of the equation by 500
x = $350 / 5000
x = 0.07
x = 7%
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