Monday
July 28, 2014

Homework Help: Algebra 2

Posted by Kelsie on Wednesday, December 15, 2010 at 6:07pm.

A man is planning to invest up to $22,000in bank X or bank Y or both. He wants to invest at least $2,000 but no more than $14,000 in bank X. Bank Y doesn't insure more than a $15,000 investment so he will not invest no more than that in bank Y. The intrest in bank X is 6% and in bank Y it is 6 1/2% and this will be simple intrest for one year. How much should he invest in each bank to maximize his income? What is the maximum income?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Pre-Calculus - .  Margaret is planning to invest up to $22,000 in certificates ...
Math - Jamaal is planning to invest up to $23000 in City Bank or State Bank. He...
precal -checking answers - Suppose Joan has $5,000 to invest. The banks are ...
Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...
Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...
math algebra - Mrs. martinez has $10,000 to invest.One bank offers her a return ...
Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...
accounting - using the equation A=L+OE how would you balance this problem: You ...
math - linear programming - A woman wishes to invest $12,000 in three of bonds: ...
precal - Suppose Joan has $5,000 to invest. The banks are offering 3.10% ...

Search
Members