An investor will invest a total of $15,000 in two accounts, one paying 4% annual simple interest
Question:
An investor will invest a total of $15,000 in two accounts, one paying 4% annual simple interest and the other 3%. If he wants to earn $550 annual interest, how much should he invest at each rate?
Transcribed Image Text:
Principal Rate (in dollars) (as a decimal) X y 15,000 0.04 0.03 Interest (in dollars)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
Lets denote the amount invested at 4 interest as x in dollars Since th...View the full answer
Answered By
ROXAN VEGA
I have extensive hands-on experience and proficiency in assisting students in various subjects. During my tutoring sessions, I prioritize creating a supportive and engaging learning environment. I strive to understand each student's unique learning style and tailor my teaching methods accordingly. I am patient, empathetic, and skilled at breaking down complex concepts into simpler, more manageable parts. I encourage active participation and discussion, promoting critical thinking and problem-solving skills.
One of my strengths as a tutor is my ability to adapt to different learning needs and styles. I can explain difficult concepts using real-life examples, visual aids, or interactive exercises, depending on what works best for the student. I also provide clear explanations, answer questions, and offer guidance in a clear and concise manner.
0.00
0 Reviews
10+ Question Solved
Related Book For
Intermediate Algebra
ISBN: 9780134895987
13th Edition
Authors: Margaret Lial, John Hornsby, Terry McGinnis
Question Posted:
Students also viewed these Mathematics questions
-
Sue decided to invest the $1500 in savings from her part-time job into a 6 month short-term investment account at the bank. The account earns 4.5% simple interest per year. a) What is the accumulated...
-
Ques 1: What is the major complaint by firms concerning the Sarbanes-Oxley act of 2012? A. the legislative maximum allowable compensation for a CEO. B. the legal requirement to disclose project...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Find the volumes of the solids generated by revolving the regions bounded by the lines and curves about the x-axis. The region between the curve and the x-axis from x = 1/4 to x = 4 y = 1/(2x)
-
What are the advantages and disadvantages of engaging consultants to assist with implementation? What kinds of skills do IS professionals need to work effectively with consultants?
-
Banks charge an overdraft fee for writing a check for an amount that is more than the balance in the account. The mean overdraft fees are shown in Table 12 for various years. Let F = g(t) be the mean...
-
CGI Federal, Inc., is a corporation that provides a number of services to the United States Passport Agency, included the processing of passport application. Passport applicants must submit sensitive...
-
In Part III of this case study, you obtained an understanding of internal control and made an initial assessment of control risk for each transaction-related audit objective for acquisition and cash...
-
Explain Suppose the government grants $2,500 per child to households that have more than two children. Draw a graph and explain whether these child allowances influence the fertility behavior of...
-
Solve each system using the substitution method. If a system is inconsistent or has dependent equations, say so. 3x-4y = -22 -3x + y = 0
-
Solve each system. -5x + 2y + z = 5 -3x - 2y 2 = 3 -x+6y= 1
-
A gas engine is run on a chemically correct mixture of methane \(\left(\mathrm{CH}_{4} ight)\) and air. The compression ratio of the engine is 10:1, and the trapped temperature and pressure at inlet...
-
Describe one way to overcome procrastination we learned from de Janasz, Dowd and Schneider ( 2 0 2 2 ) and how that way helped you to complete this assignment before the deadline.
-
Provide the solution with ACTUAL numbers with reference for the following: Evaluate Aritzia s ability to sell inventory and pay debts during 2 0 2 2 and 2 0 2 1 . In your analysis, you should compute...
-
A taxpayer lives in their main home for ten straight years and decides to cash in on the market to move out of the city. Together with their spouse, they sell the home for $ 7 5 0 , 0 0 0 . Their...
-
Write a Pthreads program to calculate the n multiplication table for the number x, where x and n are entered by user on the command line. Each created thread will calculate one element of the...
-
Thomas (aged 31 years) is an Australian resident for tax purposes. Thomas does not have aspouse or any dependents and he does have private health insurance. information relevant toThomas's income tax...
-
1. DonorsChoose.org is structured like many contemporary business organizations. Do you think this structural similarity is useful for a charity, or should charities not try to emulate the...
-
Which of the ocean zones shown would be home to each of the following organisms: lobster, coral, mussel, porpoise, and dragonfish? For those organisms you identify as living in the pelagic...
-
Solve the nonlinear system of equations. Give all solutions, including those with nonreal complex components. y = x 2 - 2x + 1 x - 3y = -1
-
Solve the nonlinear system of equations. Give all solutions, including those with nonreal complex components. y = x 2 + 6x + 9 x + 2y = -2
-
Solve the nonlinear system of equations. Give all solutions, including those with nonreal complex components. y = x 2 + 4x 2x - y = -8
-
Use a simply, everyday example of how people like you and I put up collateral No need to define what collateral is.. just hte example please Answer: tion F Ti
-
In what ways you can develop procedures for emergency extraction of a protectee from a dangerous location or situation. When it comes to the protection agency what is the mission and how can they use...
-
One point of emphasis for those who argue there WILL NOT BE enough physicians in the future is the expanded numbers of individuals with insurance coverage due to the Affordable Care Act.
Study smarter with the SolutionInn App