document.write( "Question 1146612: Using simple interest, a foundation invests $65,000: a part at 7%, twice that amount at 4%, and the rest at 5.5%. What is the most that the foundation can invest at 4% and be guaranteed $3500 in interest per year?
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document.write( "The foundation can invest at most ____ at 4%.
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Algebra.Com's Answer #767939 by VFBundy(438)![]() ![]() You can put this solution on YOUR website! 7% interest account: \n" ); document.write( "Principal = p/2 \n" ); document.write( "Rate = 0.07 \n" ); document.write( "Interest = 0.07p/2 = 0.035p \n" ); document.write( " \n" ); document.write( "4% interest account: \n" ); document.write( "Principal = p \n" ); document.write( "Rate = 0.04 \n" ); document.write( "Interest = 0.04p \n" ); document.write( " \n" ); document.write( "5.5% interest account: \n" ); document.write( "Principal = 65000 - p/2 - p \n" ); document.write( "Rate = 0.055 \n" ); document.write( "Interest = 0.055(65000 - p/2 - p) = 3575 - 0.0275p - 0.055p = 3575 - 0.0825p \n" ); document.write( " \n" ); document.write( "0.035p + 0.04p + (3575 - 0.0825p) >= 3500 \n" ); document.write( " \n" ); document.write( "-0.0075p + 3575 >= 3500 \n" ); document.write( " \n" ); document.write( "-0.0075p >= -75 \n" ); document.write( " \n" ); document.write( "p <= 10000 \n" ); document.write( " \n" ); document.write( "4% interest: \n" ); document.write( "Principal = p <= 10000 \n" ); document.write( " \n" ); document.write( "The most you can invest in the 4% interest account is $10,000. |