Solve each problem. Investing a Building Fund A church building fund has invested some money in two
Question:
Solve each problem.
Investing a Building Fund A church building fund has invested some money in two ways: part of the money at 3% interest and four times as much at 2.75%. Find the amount invested at each rate if the total annual income from interest is $2800.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (15 reviews)
Let x amount invested at 3 Then 4x amount invested at 275 The amount of inte...View the full answer
Answered By
Sufiyan Ahmed Tariq
I am a Chartered Accountant and an Associate Public & Finance Accountant. I also hold a bachelors of Commerce degree. I have over 8 years of experience in accounting, finance and auditing. Through out my career, I have worked with many leading multinational organisation.
I have helped a number of students in studies by teaching them key concepts of subjects like accounting, finance, corporate law and auditing. I help students understanding the complex situation by providing them daily life examples.
I can help you in the following subject / areas:
a) Accounting;
b) Finance;
c) Commerce;
d) Auditing; and
e) Corporate Law.
4.90+
7+ Reviews
17+ Question Solved
Related Book For
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Question Posted:
Students also viewed these Mathematics questions
-
Determine whether each equation is an identity, a conditional equation, or a contradiction. Give the solution set. -0.6(x - 5) + 0.8(x - 6) = 0.2 x - 1.8
-
Find each product or quotient. Simplify the answers. 6 2/3
-
Solve each formula for the specified variable. Assume that the denominator is not 0 if variables appear in the denominator. P = a + b + c, for c (perimeter of a triangle)
-
To anticipate subsequent chapters where more complicated renewable resource models are introduced, consider a slight modification of the two-period depletable resource model. Suppose a biological...
-
The following information was drawn from the records of Shelby Company: Variable costs (per unit) ______________________Fixed costs (in total) Direct materials.................... $12..................
-
Why do some managers sometimes misdiagnose a problem or situation?
-
The partial molar property of a component can be measured using (a) Analytical method only (c) Analytical and graphical methods (b) Graphical method only (d) Experimental method.
-
Hoechst Celanese, a pharmaceutical manufacturer, has used a profit-sharing plan, the Hoechst Celanese Performance Sharing Plan, to motivate employees. To operationalize the plan, the Hoechst Celanese...
-
Consider the following account balances of Evan McGruder, Incorporated, as of December 31, Year 3 Accounts Payable Equipment Common Stock Income Tax Payable $ 118,020 Retained Earnings 421,900 Notes...
-
Logan B. Taylor is a widower whose wife, Sara, died on June 6, 2017. He lives at 4680 Dogwood Lane, Springfield, MO 65801. He is employed as a paralegal by a local law firm. For 2019, he reported die...
-
Solve each inequality. Give the solution set in interval notation. |5 - 3x| 7
-
Find each product or quotient. Simplify the answers. 8/72
-
You are long 10 gold futures contracts, established at an initial settle price of $1,310 per ounce, where each contract represents 100 ounces. Over the subsequent four trading days, gold settles at...
-
Who should you select for your systems-testing team? What skills should they have?
-
What is the most commonly accepted notation standard for object modeling?
-
In terms of aggregation relationships, what is the difference between the use of a hollow diamond and the use of a solid diamond?
-
How should analysts show the object or class relationship using UML?
-
In object-oriented analysis and modeling, objects and classes do not exist in isolation. Why is this?
-
(a) If a constant number h of fish are harvested from a sherry per unit time, then a model for the population P(t) of the fishery at time t is given by dP/dt = P(a - bP) - h, P(0) = P 0 , where a, b,...
-
Given that all the choices are true, which one concludes the paragraph with a precise and detailed description that relates to the main topic of the essay? A. NO CHANGE B. Decades, X-ray C. Decades...
-
Simplify. b - a -1 6-1 a
-
Multiply or divide and, if possible, simplify. 2a + 5a - 3 a + 8a + 15 a + 4a - 5 3a 3a - a - 2
-
Write interval notation for the graph. -8-7 -6 -5 -10 -9 -8 -7 - 4 -3 -2 -1 0 1 2
-
Required: Prepare a consolidation worksheet for 2 0 X 9 . Assume the company prepares the optional Accumulated Depreciation Consolidation Entry and that the depreciation expense was the same amount...
-
Find the slope -intercept form for the line passing through (7,2) and parallel to the line passing through (3,8) and (-5,6). The slope -intercept form for the line passing through (7,2) and parallel...
-
The cost function for a certain company is C = 20x + 700 and the revenue is given by R = 100x - 0.5x^(2). Recall that profit is revenue minus cost. Set up a quadratic equation and find two values of...
Study smarter with the SolutionInn App