Davos has $150,000 to invest. His intent is to earn 7.5% interest on his investment. Davos will invest part of the money at 5.6% interest and part at 9.7% interest. How much does Paul need to invest in each option to earn a 7.5% return on the $150,000? Round to the nearest dollar.

The amount invested on 5.6% interest = $80488

The amount invested on 9.7% interest = $69512

Step-by-step explanation:

Given that total amount of investment = $150,000

Let the amount invested on 5.6% interest = $

Now, amount invested on 9.7% interest = $(150000-)

Total interest to be earned = 7.5%

Formula to be used:

Where, is the amount invested

is the rate of interest

is the time for which amount is invested.

As per question statement:

The amount invested on 5.6% interest = $80488

The amount invested on 9.7% interest = $150000 - $80488 = $69512

-2x + 7 = 7

subtract 7 from both sides.

-2x = 0

divide both sides by -2.

x = 0