Posted by **gaurav** on Friday, October 28, 2011 at 3:11pm.

1. You have $55000 to invest, and two funds you would like to invest in. The You-Risk-It Fund yields 13% interest. The Extra-Dull Fund yields 7% interest. Because of the college financial aid implications, you don’t think you can afford to earn more than $6500 in interest income this year. How should you put in each fund?

- math -
**Henry**, Saturday, October 29, 2011 at 10:11pm
Invest $X @ 13% in You-Risk-it fund.

Invest$(55,000-X) @ 7% in Extra-Dull Fund.

0.13x + 0.07(55,000-x) = $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%.

## Answer This Question

## Related Questions

- math - 4. You have $55000 to invest, and two funds you would like to invest in. ...
- math - 1. You have $55000 to invest, and two funds you would like to invest in. ...
- College Algebra - You plan to invest $12,000 in two funds paying 41/2% and 5% ...
- college algebra - suppose you invest $15,000 in two funds paying 11 1/2%and 14% ...
- Algebra 1 - You have $6000 to invest in two stock funds. The first fund pays 5% ...
- MSIS Management Science Methods - How can I set this question up in Lindo? ...
- 8th grade math - system of equations - I'm not sure how to solve these. Solve ...
- Statistics - Probability - A mutual fund company has six funds that invest in ...
- algebra - suppose you invest $15,000 in two funds paying 11 1/2% and 14% simple ...
- Math - John invested his savings in two investment funds. The amount he invested...

More Related Questions