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

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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) About Me  (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) About Me  (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.
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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)