SOLUTION: A company invests a total of ​$50,000 of surplus funds at two annual rates of​ interest: 3​% and 7 1/2%. It wishes an annual yield of no less than 6 1/4​%.
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Question 1093149: A company invests a total of $50,000 of surplus funds at two annual rates of interest: 3% and 7 1/2%. It wishes an annual yield of no less than 6 1/4%. What is the least amount of money that the company must invest at the 7 1/2% rate?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
x+y=50000
.03x+.0750y=.0625*(50000)
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