Solution-The interest at city bank is 6 and the interest at

The interest at city bank is 6 and the interest at state

Reference no: EM13593221

Jamaal is planning to invest up to $17,000 in City Bank or State Bank. He wants to invest at least $4,000 in City Bank but no more than $16,000; since State Bank does not insure more than $12,000, he wants to invest no more than this amount in State Bank. The interest at City Bank is 6%, and the interest at State Bank is 8%. How much should he invest in each bank to earn the most interest?

Reference no: EM13593221

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The interest at city bank is 6 and the interest at state

Reference no: EM13593221

Reference no: EM13593221

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