Question #bf2f5

1 Answer
EET-AP
Oct 22, 2017

#$1500# must be invested.

Explanation:

#$4000# is invested for a year at #3%# per year.

#I=PRT=$4000xx(3%)/cancelyxx1cancely=$40cancel00xx3/(cancel100)=$120#

We need to make #I=$195-$120=$75# higher (more).

At #5%# per year: #I=$75=Pxx(5%)/cancelyxx1cancely=(5P)/100#

#$75(100)=5P#

#P=$75/5(100)=$1500#

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