linear equations word problem

Question

1. Harry deposits $2400 in an account that pays 7% simple interest, and $3500 in a second account which has a higher interest rate but is more risky. What interest rate must he get on the second account in order to earn at least $800 in interest for one year?

 

interest rate (<,>,≤,≥) _____%

 

2.

Answer 1

Let r = the interest rate on the second account

.07(2400) + 3500r ≥ 800

168 + 3500r ≥ 800

3500r ≥ 632

r ≥ .18057

r ≥ 18%