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?

No one has answered this question yet.

Answer this Question

Related Questions

college algebra - suppose you invest $15,000 in two funds paying 11 1/2%and 14% ...
algebra - suppose you invest $15,000 in two funds paying 11 1/2% and 14% simple ...
math - linear programming - A woman wishes to invest $12,000 in three of bonds: ...
algebra - A total of $12,000 is invested in two funds paying 9% and 11% simple ...
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. ...
math - 1. You have $55000 to invest, and two funds you would like to invest in. ...
Math - 1. Jacksonville Technical College received $3,445,553 in state aid on ...
art - Gina plans to invest $12,000, part at 4% simple interest and the rest at 6...
Math - Gina plans to invest $12,000, part at 4% simple interest and the rest at ...

For Further Reading

First Name:
School Subject:
Answer: