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?

math - FredR, Tuesday, March 9, 2010 at 3:31pm
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
math - jgiu, Tuesday, October 2, 2012 at 11:45pm
a = nothing

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