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

## 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 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 ...

Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...

maths --plse help me.. - A man has Rs 50,000.He invests some part of it in one ...

precal - Suppose Joan has $5,000 to invest. The banks are offering 3.10% ...

accounting - using the equation A=L+OE how would you balance this problem: You ...

Economics - Bank A has a leverage ratio of 10, while Bank B has a leverage ratio...