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April 18, 2014

Homework Help: College Algebra

Posted by Danny on Tuesday, September 11, 2012 at 7:50pm.

You plan to invest $12,000 in two funds paying 41/2% and 5% simple interest. (There is more risk in the 5% fund.) Your goal is to obtain a total annual interest income of $580 from the investment. What is the smallest amount you can invest in the 5% fund and still meet your objective?

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