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Business, 23.04.2020 19:16 brenda0014
A total of $29,000 is invested in two funds paying 3% and 3.5% simple interest. (The 3% investment has a lower risk.) The investor wants a yearly interest income of $1000 from the two investments. (a) Write a system of equations in which one equation represents the total amount invested and the other equation represents the $1000 required in interest. Let x and y represent the amounts invested at 3% and 3.5%, respectively.
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A total of $29,000 is invested in two funds paying 3% and 3.5% simple interest. (The 3% investment h...
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