A financial planner has a client with $17,000 to invest. If he invests $10,000 in a certificate of deposit paying 11% annual simple interest, at what rate does the remainder of the money need to be invested so that the two investments together yield at least $1660 in yearly interest? For the two investments to yield at least $1660 in yearly interest the remainder of the money needs to be invested at a rate of at least %.

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07-11-2022
Mathematics

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A financial planner has a client with $17,000 to invest. If he invests $10,000 in a certificate of deposit paying 11% annual simple interest, at what rate does the remainder of the money need to be invested so that the two investments together yield at least $1660 in yearly interest? For the two investments to yield at least $1660 in yearly interest the remainder of the money needs to be invested at a rate of at least %.

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