You are going to invest 20,000 dollars part at 14% and part at 16% what is the most that can be invested in 14% to make at least 3600 interest per year

Question

My teacher doesn't really teach but just gives us problems I need help!

Answer 1

THe statement of this problem is incorrect!!!!!!

X+Y = 20000

0.14x + 0.16y = 3600

0.14x + 0.16(20000 - x) = 3600

0.14x + 3200 - 0.16x = 3600

-0.02x + 3200 = 3600

-0.02x = 400

2x = -40000

x = -20000

If you invested all $20000 at 16%, you only get $3200.

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