math
posted by gaurav on .
1. You have $55000 to invest, and two funds you would like to invest in. The YouRiskIt Fund yields 13% interest. The ExtraDull Fund yields 7% interest. Because of the college financial aid implications, you donâ€™t think you can afford to earn more than $6500 in interest income this year. How should you put in each fund?

Invest $X @ 13% in YouRiskit fund.
Invest$(55,000X) @ 7% in ExtraDull Fund.
0.13x + 0.07(55,000x) = $6500,
0.13x + 3850  0.07x = 6500,
0.06x = 2650,
X = $44,166.67. Invested @ 13%.
(55,000  44,166.67) = $10,833.33 Invested @ 7%.