Solve. -David Has $18,000 to Invest. He Invests $13,000 in a a Mutual

question 250

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%

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