To Find: The minimum amount to invest in the risky fund to earn at least $740 as interest after one year.
Answer to Problem 43PPS
The minimum amount Mr. H can invest in the risky funds is $3500.
Explanation of Solution
Giveninformation :
Interest on first fund is 6%=0.06 interest
Interest on second fund is 10%=0.10 interest
Total amount of investment=
Explaination:
Expect x be the amount in the fund that pays 6%=0.06 interest.
Also, y be the amount in the fund that pays 10%=0.10interest.
Then, the combination of inequality to explain this situation is expressed as shown below:
And;
Graph the inequalities as shown below:
LetThe shaded region represents where all inequalities are true.
From the graph,
The minimum amount to be invested in the 10% fund is the corner of the solution with the smalles y-coordinate:(6500,3500)
Therefore, the minimum amount Mr. H can invest in the risky fund is $3500.
Chapter 3 Solutions
Glencoe Algebra 2 Student Edition C2014
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