A = amt invested at 8.5%
B = amt invested at 10%
A + B = 50000 or
A = 50000 - B
income = 0.085A + 0.10B = 4700
substitute A in terms of B and solve
An inheritance of $50,000 is divided into two investments earning 8.5% and 10% simple interest. ( The 10% investment has a greater risk.) Your objective is to obtain a total annual interest income of $4700 form the investments. What is the smallest amount you can invest at 10% in order to meet your objective?
2 answers
a = nothing
1 answer