SOLUTION: an investor is planning to invest $25,000 for one year. she plans to invest a portion of this money at 7% and the remaining at 12%. what is the maximum amount of money that can be
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-> SOLUTION: an investor is planning to invest $25,000 for one year. she plans to invest a portion of this money at 7% and the remaining at 12%. what is the maximum amount of money that can be
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Question 127015: an investor is planning to invest $25,000 for one year. she plans to invest a portion of this money at 7% and the remaining at 12%. what is the maximum amount of money that can be invested at 7% in order to make at least $2,450 for the year? Answer by edjones(8007) (Show Source):
You can put this solution on YOUR website! Let x be amt. invested at 7%.
.07x+.12(25000-x)=2450
.07x+3000-.12x=2450
-.05x+3000-3000=2450-3000
-.05x=-550
-.05x/-.05=-550/-.05
x=$11,000.
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Check:
11000*.07=770
14000*.12=1680
770+1680=2450
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If 1 more penny were invested at 7%, that would leave 1 less penny to be invested at 12% and the total return would be less than 2450.
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Ed
