florence-reid_60bd828bec1f1
florence-reid_60bd828bec1f1
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1) Let the amount needed be x. We have: (0.055)(2500) + (0.08)(x) = (0.07)(2500 + x) 137.5 + 0.08x = 175 + 0.07x 0.08x - 0.07x = 175 - 137.5 0.01x = 37.5 x = 37.5 * 100 x = 3750 Hence, $3750 must be invested at 8% 2) Speed = dista…