Problema Solution
A person invested $8000, part in one bank at 2% and the rest in another bank at 3% interest. If the yearly income from these investments was $257.50, how much was invested at 2%?
Answer provided by our tutors
If the person invested all the money $8,000 at 3% interest the profit it will get is:
0.03*8000 = $240 and $240 < $257.50
thus the person will never get yearly income of $257.50 from the investments.
The problem has not solution.