A financial planner has a client with $19,000 to invest. If he invests $10,000 in a certificate of deposit paying 11% annual simple interest, at what rate does the remainder of the money need to be invested so that the two investments together yield at least $1640 in yearly interest?
For the two investments to yield at least $1640 in yearly interest the remainder of the money needs to be invested at a rate of at least %.
How to find the rate?