Question: A foundation invests $50,000 at simple interest, part at 7%, twice that amount at 4%, and the rest at 5.5%. What is the most that

A foundation invests $50,000 at simple interest, part at 7%, twice that amount at 4%, and the rest at 5.5%. What is the most that the foundation can invest at 4% and be guaranteed $2660 in interest per year?

Step by Step Solution

★★★★★

3.44 Rating (183 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Familiarize and Translate Let x the amount invested at 7 Then 2x the amount invested at 4 and 50 000 ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

864-L-A-L-S (177).docx

120 KBs Word File

Students Have Also Explored These Related Linear Algebra Questions!

A university invests $600,000 at simple interest, part at 6%, half that amount at 4.5%, and the rest at 3.5%. What is the most that the university can invest at 3.5% and be guaranteed $24,600 in...

Gina plans to invest $12,000, part at 4% simple interest and the rest at 6% simple interest. What is the most that she can invest at 4% and still be guaranteed at least $650 in interest per year?

A software author invests his royalties in two accounts for 1 yr. (a) The first account pays 2% simple interest. If he invests x dollars in this account, write an expression for y 1 in terms of x,...

Formula Sheet Simple interest PrT 1 =7 100 Compound interest A = PR" , where R = 1+- r 100 The annuities formula - reducing balance loans Q(Rn - 1) r A = PRn R-1 , where R = 1+ 100 The annuities...

Math 110: Sample exam #2 Direction: Solve the problems on separate paper. Show your steps. Submit before the exam. Staple your papers. CH 2 1.Solve and write solution in set notation: 4 w + 12 + 9 w...

Qusetion3 (Amounts in Namibia Dollars [N$]) iPhone X (Pty) Ltd has a company policy to pay performance bonuses to employees once the financial statements have been signed-off by the auditors. The...

iPhone X (Pty) Ltd has a company policy to pay performance bonuses to employees once the financial statements have been signed-off by the auditors. The financial statements in respect of the companys...

Question 3 (Amounts in Namibia Dollars [N$]) iPhone X (Pty) Ltd has a company policy to pay performance bonuses to employees once the financial statements have been signed-off by the auditors. The...

Qusetion3 (Amounts in Namibia Dollars [N$]) iPhone X (Pty) Ltd has a company policy to pay performance bonuses to employees once the financial statements have been signed-off by the auditors. The...

Question3 (Amounts in Namibia Dollars [N$]) iPhone X (Pty) Ltd has a company policy to pay performance bonuses to employees once the financial statements have been signed-off by the auditors. The...

How many comparisons are needed to locate or to add each of thesewords in the search tree for Exercise 1, starting fresh each time? a) Pear b) Banana c) Kumquat d) Orange

Create a quarterly rebalanced portfolio where the Strategic Asset Allocation (SAA) is 60:20:20 US:EAFE and EM, Calculate the return and volatility of this quarterly rebalanced SAA: Quarter EM EAFE US...

What revenue classification would you use for Cash received on next year s property taxes? Revenues - Taxes Not a revenue Revenues Investment Income Revenues - Intergovernmental

73. One technique you can use to develop a project team is to place the team members in the same physical location. This technique enhances the teams ability to perform and is commonly referred to...

Evaluate the determinant. 2 -3 5 1 1 3 4 -2 -1

Solve using Cramers rule. Show your work. 5x + 2y = -1, 7x + = 1

Graph. 2x - 5y

Use R studio Explain clearly: #7. Create a sample of: a. 40 discrete random numbers selected from a population of 1 to 750. b. Sort the values in your sample generated in part a. c. 40 discrete...

Green Moose Industries is a company that produces iWidgets, among several other products. Suppose that Green Moose Industries considers replacing its old machine used to make iWidgets with a more...

Question 15 1.5 pts Today you observe the folowing quotes: Spot GBPUSD - $1.06 60 Day Forward GBPUSD - $1.26 In 60 day you expect to receive 171,078 British Pounds. In 60 days you expect the GBPUSD...