document.write( "Question 260865: Mr. Gulsby had $15,000 to invest, part at 12% and the rest at 6%. If he wants an annual return of at least $1,500, what amount should he invest at each rate? \n" ); document.write( "

Algebra.Com's Answer #192143 by stanbon(75887) $\"\"$ $\"About$

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Mr. Gulsby had $15,000 to invest, part at 12% and the rest at 6%. If he wants an annual return of at least $1,500, what amount should he invest at each rate?
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\n" ); document.write( "Quantity Equation: x + y = 15000
\n" ); document.write( "Interest Equation:0.12x + 0.06y = <= 1500
\n" ); document.write( "-------------------------------------------
\n" ); document.write( "Multiply 1st by 12
\n" ); document.write( "Multiply 2n by 100
\n" ); document.write( "-----------------------
\n" ); document.write( "12x + 12y = 12*15000
\n" ); document.write( "12x + 6y <= 10*15000
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\n" ); document.write( "Subtract 2nd from 1st and solve for \"y\":
\n" ); document.write( "6y = 2*15000
\n" ); document.write( "y = 5000 (amount invested at 6%
\n" ); document.write( "Since x + y = 15000, x = 10,000 (amount to be invested at 12%)
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

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