October 9, 2015

Homework Help: math

Posted by donna on Tuesday, March 9, 2010 at 11:24am.

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?

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