Linear Equations Word Problem

[fizzy19]

An amount of $300,000 is invested for a year, one part at an interest rate of 8% , the remainder at a rate of 5%. At the end of the year the receipt on interest is over $2000. Calculate the least possible amount invested at 8%.


I wrote out this equation for it, but i get some really weird numbers whichever way i try to solve it. I don't know if this equation is correct but i do have the answer which says it is '' atleast $16,667 at 8%''

0.08x + 0.05(300,000 - x) ≤ $2000

 

[Ishuda]

An amount of $300,000 is invested for a year, one part at an interest rate of 8% , the remainder at a rate of 5%. At the end of the year the receipt on interest is over $2000. Calculate the least possible amount invested at 8%.


I wrote out this equation for it, but i get some really weird numbers whichever way i try to solve it. I don't know if this equation is correct but i do have the answer which says it is '' atleast $16,667 at 8%''

0.08x + 0.05(300,000 - x) ≤ $2000

The inequality points the wrong way and as stated (a principal amount of $300,000), none of the money needs to be invested at 8%. If fact, if the complete amount earned interest at 1%, the interest earned would be $3000 which is more than $2000.

However the inequality is the one you would want to solve for x if the inequality pointed the other way and the principal amount was $30000.