Question 1141790
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<pre>
Let x dollars be the amount invested at 7%.


Then the amount invested at 2% is 2x dollars,

and the amount invested at 5.5% is the rest  (50000-x-2x) = (50000-3x) dollars.


Your total interest INEQUALITY is then


    0.07x + 0.02*(2x) + 0.055*(50000 - 3x) >= 2420   dollars.


Simplify and solve for x


    0.07x + 0.04x - 0.165x >= 2420 - 0.055*50000

    -0.055x <= -330

    x >= {{{(-330)/(-0.055)}}} = 6000 dollars.


Hence, investment at 2% must be greater than or equal to 12000 dollars.    <U>ANSWER</U>
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Notice that the question in the post is formulated &nbsp;<U>INCORRECTLY</U> &nbsp;(!)


The correct question should be


<pre>
    What is the <U>minimum amount</U> the foundation can invest at 2% and be guaranteed $2,420 in interest per year?


    Then the answer is : the minimum is $12000.
</pre>