Posted by **gaurav** on Saturday, October 29, 2011 at 2:10am.

4. 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 -
**drwls**, Saturday, October 29, 2011 at 2:29am
Let X be the amount invested at 13% interest

Let Y be the amount invested at 7% interest

0.13X + 0.07 Y = 6500 (maximum without financial aid penalty)

X + Y = 55,000

0.13X + 0.13Y = 7150

0.06Y = 650

Y = 10,833.33 at 7%

X = 44,166.67 at 13%

## Answer this Question

## Related Questions

- math - 1. 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? ...
- 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...
- math - Carlos invested his savings in two investment funds. The amount he ...

More Related Questions