SOLUTION: A company invests a total of $30,000 of surplus funds at two annual rates of interest: 4% and 6.75%. It wishes an annual yield of no less than 6.75%. What is the least amount of mo

Question 1132843: A company invests a total of $30,000 of surplus funds at two annual rates of interest: 4% and 6.75%. It wishes an annual yield of no less than 6.75%. What is the least amount of money that the company must invest at the 6.75% rate?
Found 2 solutions by addingup, ikleyn:
Answer by addingup(3677)   (Show Source): You can put this solution on YOUR website!
To invest 30,000 and get an annual yield of 6.75% when the choices are 4% or 6.75%, the least amount to invest at 6.75% is 30,000
Answer by ikleyn(52776)   (Show Source): You can put this solution on YOUR website!
.
A company invests a total of $30,000 of surplus funds at two annual rates of interest: 4% and 6.75%.
It wishes an annual yield of no less than 6.75%. What is the least amount of money that the company must invest at the 6.75% rate?
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