What is the value of this expression
1 answer:
You might be interested in
Answer:
The most Kyle can invest at 4% is $10000.
Step-by-step explanation:
<u>To Determine:</u>
What is the most he can invest at 4% and still be guaranteed at least $700 in interest per year?
<u>Information Fetching and Solution Steps:</u>
As
- Dillon plans to invest $16,000 part at 4% simple interest
- and the rest at 5% simple interest
So,
If Kyle has to invest $16,000. then the following equations can be established from the given data
Multiplying the second equation by 100, we get,
Multiplying the 1st equation i.e. by 5
So, the equations become
As
As
$
Therefore, the most Kyle can invest at 4% is $10000.
Keywords: interest rate, equation
Learn more equation involving interest rate from brainly.com/question/1504250
#learnwithBrainly