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Jamaal is planning to invest up to $24000 in City Bank or State Bank. He wants to invest at least $1000 in City Bank, but not more than $13000; since State Bank does not insure more than $17000, he wants to invest no more than this amount in State Bank. The interest at City Bank is 6%, and the interest at State Bank is 7%. How much should he invest in each bank to earn the most interest? What is the maximum amount of interest that Jamaal can earn? He should invest $ in City Bank and $ in State Bank. The maximum amount of interest that Jamaal can earn is $[

Jamaal is planning to invest up to $24000 in City Bank or State Bank. He wants to invest at least $1000 in City Bank, but not more than $13000; since State Bank does not insure more than $17000, he wants to invest no more than this amount in State Bank. The interest at City Bank is 6%, and the interest at State Bank is 7%. How much should he invest in each bank to earn the most interest? What is the maximum amount of interest that Jamaal can earn? He should invest $ in City Bank and $ in State Bank. The maximum amount of interest that Jamaal can earn is $[

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Jamaal is planning to invest up to $24000 in City Bank or State Bank. He wants to invest at least $1000 in City Bank, but not more than $13000; since State Bank does not insure more than $17000, he wants to invest no more than this amount in State Bank. The interest at City Bank is 6%, and the interest at State Bank is 7%. How much should he invest in each bank to earn the most interest? What is the maximum amount of interest that Jamaal can earn? He should invest $ in City Bank and $ in State Bank. The maximum amount of interest that Jamaal can earn is $.
Transcribed Image Text:Jamaal is planning to invest up to $24000 in City Bank or State Bank. He wants to invest at least $1000 in City Bank, but not more than $13000; since State Bank does not insure more than $17000, he wants to invest no more than this amount in State Bank. The interest at City Bank is 6%, and the interest at State Bank is 7%. How much should he invest in each bank to earn the most interest? What is the maximum amount of interest that Jamaal can earn? He should invest $ in City Bank and $ in State Bank. The maximum amount of interest that Jamaal can earn is $.
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