Paul has $70,000 to invest. His intent is to earn 15% interest on his investment. He can invest part of his money at 8% interest and part at 18% interest. How much does Paul need to invest in each option to make a total 15% return on his $70,000?
Let n be the part invested at 18%. Then: .18n+.06(40000-n)=.15(40000) .18n+2400-.06n=6000 .12n=3600 n=3600/.12=$30000 at 18%, $10000 at 6%!!!!!!!!!!!!!
