SOLUTION: An investor plans to invest part of 5,000$ in a stock that pays 8% interest annually. The rest will be invested in a savings account that pays 6% interest annually The investor wa

Question 51845: An investor plans to invest part of 5,000$ in a stock that pays 8% interest annually. The rest will be invested in a savings account that pays 6% interest annually The investor wants to make at least 350$ on the investment for the first year. What is the least amount that should be invested in the stock.
Found 2 solutions by checkley71, stanbon:
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
350=.08X+.06(5000-X) OR 350=.08X+300-.06X OR 350=.02X+300 OR .02X=350-300 OR
.02X=50 OR X=50/.02 OR X=2500 INVESTED @ 8% & 5000-2500=2500 INVESTED @ 6%.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
An investor plans to invest part of 5,000$ in a stock that pays 8% interest annually. The rest will be invested in a savings account that pays 6% interest annually The investor wants to make at least 350$ on the investment for the first year. What is the least amount that should be invested in the stock.
--------------------
Let amount invested at 8% be "x".
Interest on this money will be 0.08x dollars.
Amount invested at 6% will be "5000-x"
Interest on this money will be 0.06(5000-x)= 300-0.06x dollars
INEQUALITY:
interest + interest >=350 dollars
0.08x +300-0.06x>=350
8x+30000-6x>=35000
2x>=5000
Cheers,
Stan H.
x>=$2500 (Amount invested in 8% stock)
RELATED QUESTIONS
An investor decides to invest some cash in an account paying 12% annual interest, and to... (answered by ikleyn)
Diana invested part of a 10,000 inheritance in stocks paying 6.5% simple interest... (answered by ikleyn)
If money is invested at r percent interest, compounded annually, the amount of the... (answered by Theo)
A woman has a total of $8,000 to invest. She invests part of the money in an account that (answered by greenestamps)
A woman has a total of $7,000 to invest. She invests part of the money in an account that (answered by greenestamps)
Jane has $10 000 to invest. She invested part of it in a term deposit that pays 4% per... (answered by checkley71)
A woman has a total of $12,000 to invest. She invests part of the money in an account... (answered by ankor@dixie-net.com,greenestamps)
.O6X+160An investor decides at the beginning of the year to invest some of his cash in an (answered by checkley71)
Question content area top Part 1 A company will need $75,000 in 7 years for a new... (answered by math_tutor2020)