Paul needs to invest $10000 at 6% interest and $30000 at 10% interest to make a total of 9% return on his $40000.
<em><u>Explanation</u></em>
Suppose, the amount of money at 6% interest is
As Paul has total $40000 to invest, so the amount of money at 10% interest will be:
His intent is to earn 9% interest on his $40000 investment. So, the equation will be......
So, Paul needs to invest <u>$10000 at 6% interest</u> and ($40000- $10000) or <u>$30000 at 10% interest </u>to make a total of 9% return on his $40000.
