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12-04-2017
Business

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Melissa is planning to invest a total of $17,000 in two accounts. if she invests $10,000 in a cd paying 12% annual simple interest, at what rate does the remainder of her money need to be invested so that the two investments together yield at least $1900 in yearly simple interest? (set up and solve an inequality to answer this question.

Respuesta :

22-04-2017

10,000 x .12= $1200.

$1200 - $1900=$700

$700/$7000=10%

She would need to get 10% from the remainder of her investments to reach $1900 for year with $17,000 to invest.

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