SOLUTION: Kyle plans to invest $7500.00, part at 4% simple interest and the rest at 5% simple interest. What is the most that can be invested at 4% and still be guaranteed at least $325.00
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Question 432613: Kyle plans to invest $7500.00, part at 4% simple interest and the rest at 5% simple interest. What is the most that can be invested at 4% and still be guaranteed at least $325.00 in interest per year? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! If Kyle has $7500 to invest,then:
x+y=7500
.04x+.05y=325
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Multiply the second equation by 100, we get:
4x+5y=32500
5x+5y=37500
5x-4x=5000
x=5000
Thus the most Kyle can invest at 4% is $5000.
