Algebra Math Help

algebra question … I'm confused …?

You deposit $ 3,500 at 7% and 5.5% to $ 6,500, both simple interest. What is the effective interest rate? (In other words, what interest rates $ 10,000 in interest rates yield the same total at the end of the year?) Express response as a percentage to the nearest tenth of a percentage point. Use the formula I = Prt I is the interest earned after years where t P dollars are invested annual rate r

3500, multiplied by 7% or .07. Add to this 0055 * 6500. This gives you total interest can be expressed as a percentage of 10,000. To check your answer, the final answer should be between 5.5 and 7% and closer to 5.5, ie about 6% or more. It sure aquick added correctly. Oh, what the devil interstitial in 3500 is 245, interest 6500 357.5 357.5 602.5 + 245 = 6025% Whicher 10,000, which as you can see, it's damn near 6% for what he has stood the test of reasonableness.

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