Posted by Kelsie on .
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?
Algebra 2 -