One safe investment pays 10% per year, and a more risky investment pays 18% per year. A woman who has $142,400 to invest would like to have an income of $19,500 per year from her investments. How much should she invest at each rate? Step 1 Set up equations that model the problem. X = amount of safe investment. = amount of risky investment. y: Total amount invested x + y = 145,200 %3D L 0.1 ) = x ( 0.18 )=y = 19,500 Step 2 Use the equations to solve for y. x + y = 145,200 %3D x + 1.8y = (10) x second equation 0.8y : Subtract the second equation from the first Solve for y, the amount of risky investment.
One safe investment pays 10% per year, and a more risky investment pays 18% per year. A woman who has $142,400 to invest would like to have an income of $19,500 per year from her investments. How much should she invest at each rate? Step 1 Set up equations that model the problem. X = amount of safe investment. = amount of risky investment. y: Total amount invested x + y = 145,200 %3D L 0.1 ) = x ( 0.18 )=y = 19,500 Step 2 Use the equations to solve for y. x + y = 145,200 %3D x + 1.8y = (10) x second equation 0.8y : Subtract the second equation from the first Solve for y, the amount of risky investment.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Transcribed Image Text:One safe investment pays 10% per year, and a more risky investment pays 18%
per year. A woman who has $142,400 to invest would like to have an income of
$19,500 per year from her investments. How much should she invest at each
rate?
Step 1
Set up equations that model the problem.
X = amount of safe investment.
= amount of risky investment.
y:
Total amount invested x + y = 145,200
%3D
L 0.1
) = x
(
0.18
)=y
= 19,500
Step 2
Use the equations to solve for y.
x + y = 145,200
%3D
x + 1.8y =
(10) x second equation
0.8y :
Subtract the second equation from the first
Solve for y, the amount of risky investment.
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