SOLUTION: Kyle plans to invest ​$8000​, part at 2​% simple interest and the rest at 3​% simple interest. What is the most that he can invest at 2​% and still be
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Question 1036351: Kyle plans to invest $8000, part at 2% simple interest and the rest at 3% simple interest. What is the most that he can invest at 2% and still be guaranteed at least $180 in interest per year?
Answer by macston(5194) (Show Source): You can put this solution on YOUR website!
.
W=amount at 2%; H=amount at 3%
.
W+H=$8000
H=$8000-W
.
.02W+.03H=>$180
.02W+.03($8000-W)>=$180
.02W+$240-.03W=>$180
-0.01W=>-$60 . (Reverse inequality sign when dividing by negative number)
W<=$6000
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ANSWER: He must invest less than (or equal to) $6000 at 2%.
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