Question

If I plan to invest 48000 in two accounts one has an interest rate of 3.2% and the other higher account is 6.3% if i want to earn 2435 what is the smalles amount I can invest in the higher account and still earn 2435

Answer 1

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}}\color{red}{\text{
}}\color{orange}{\text{W}}\color{#E6E600}{\text{E}}\color{green}{\text{L}}\color{blue}{\text{C}}\color{purple}{\text{O}}\color{purple}{\text{M}}\color{red}{\text{E}}\color{orange}{\text{ }}\color{#E6E600}{\text{T}}\color{green}{\text{O}}\color{blue}{\text{ }}\color{purple}{\text{O}}\color{purple}{\text{P}}\color{red}{\text{E}}\color{orange}{\text{N}}\color{#E6E600}{\text{S}}\color{green}{\text{T}}\color{blue}{\text{U}}\color{purple}{\text{D}}\color{purple}{\text{Y}}\color{red}{\text{!}}\color{orange}{\text{}}\end{array} \]

Answer 2

Let x = amount invested at 3.2% and 48000-x the amount at 6.3%
The interest earned on x dollars is: .032x
The interest earned on 48000-x dollars is: .063(48000-x)
Add the two interest amounts and set it equal to 2345.
Solve that equation.