Question 55075This question is from textbook Algebra 2 with trigonometry
: You are going to invest $25,000.00, part at 14% and part at 16%. What is the most that can be invested at 14% to make at least $3,600.00 interest per year?
This question is from textbook Algebra 2 with trigonometry
Answer by anjulasahay(30)   (Show Source):
You can put this solution on YOUR website! You are going to invest $25,000.00, part at 14% and part at 16%. What is the most that can be invested at 14% to make at least $3,600.00 interest per year?
ans: let x be the amount invested at 14%
and y be the amount invested at 16%
hence total amount = x+y = 25,000.00 -------- I
total interest according to the problem will be
.14*x+.16*y=3,600.00 --------- II
then value of x to be found out by solving above two equations.
Multiply eq. I by .16 and subtracting from II Will give
(.14*x+.16*y)-.16*(x+y)=3600-.16*25000
.14x-.16x=3600-4000=400
.02x = 400
x = 400/.02 =20,000
hence invested at 14% = $20,000
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