Multiple Choice
Solve.
-David has $18,000 to invest. He invests $13,000 in a mutual fund that pays 12% annual simple interest. If he wants to make at least $2200 in yearly interest, at what minimum rate does the
Remainder of the money need to be invested?
A) 11.8%
B) 14.8%
C) 12.8%
D) 10.8%
Correct Answer:
Verified
Correct Answer:
Verified
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