# Answer to Question #24184 in Algebra for Faisal

Question #24184

kyle plans to invest $6000, part at 5% simple interest and the rest at 6% simple interest. what is the most that he can invest 5% and still be guaranteed at least $320 in interset per year ?

Expert's answer

For example, he invests $X at 5% simple interest and& $Y at 6% simple interest:

X + Y = 6000

0.05X + 0.06Y = 320

From the first equation:

Y = 6000 - X

From the second:

0.05 + 0.06(6000 - X) = 320

0.01X = 0.06*6000-320 = 40

Thus, we obtain X = 4000

Answer: $4000

X + Y = 6000

0.05X + 0.06Y = 320

From the first equation:

Y = 6000 - X

From the second:

0.05 + 0.06(6000 - X) = 320

0.01X = 0.06*6000-320 = 40

Thus, we obtain X = 4000

Answer: $4000

Need a fast expert's response?

Submit orderand get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

## Comments

## Leave a comment