Question: A software author invests his royalties in two accounts for 1 yr. (a) The first account pays 2% simple interest. If he invests x dollars

A software author invests his royalties in two accounts for 1 yr.

(a) The first account pays 2% simple interest. If he invests x dollars in this account, write an expression for y₁in terms of x, where y₁ represents the amount of interest earned.

(b) He invests in a second account $500 more than he invested in the first account. This second account pays 1.5% simple interest. Write an expression for y₂, where y₂ represents the amount of interest earned.

(d) How much interest will he receive if $250 is invested in the first account?

Step by Step Solution

★★★★★

3.41 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a y 1 002x b y 2 0015x 500 c ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related College Algebra Questions!

A taxpayer who pays 22% in taxes each year has these two accounts. Account 1: $10,000 is placed in a tax-deferred account that pays 5% interest compounded annually for 25 years. Account 2: $10,000 is...

A firm operates a large, direct-to-consumer sales force. The firm would like to build a system to monitor the progress of new agents. The goal is to identify superstar agents as rapidly as possible,...

1. Generate a data set consisting of the length of each word used in the letter signed by A MOURNER. Be sure to disregard any text that uses proper names, numbers, abbreviations, or titles. 2....

MULTIPLE CHOICE 1 Using the recurrence relation t0 = 8, tn+1 = tn + 9, the sixth term would be: A 2 15 B 17 C 23 D 53 E 62 A canoe costs $40 to hire for the first day and $30 for each extra day. If...

1. A bank is paying interest at a 5% annual rate on deposits. If you invest 10,000 and the bank compounds interest daily (i.e., 365 times per year), which of the following shows how much you will...

Can anyone solve the answers from the given document givenbelow? I really need help. MY FINAL LITERALLY IS KNOCKING AT THE DOOR. Name_________________________________ Student...

SOMEONE PLEASE HELP ME GIVE ALL THE ANSWERS!!!!! MY EXAM IS ON 13th MORNING! SO PLEASEEEEE!!!!! 2. An investment is expected to pay the following: C 1 = $2,300, C 2 = $2,600, C 3 = $2,900, and then...

1. [-/1 Points] DETAILS HARMATHAP12 6.2.010.MI. MY NOTES PRACTICE ANOTHER What interest will be earned if $6200 is invested for 6 years at 13% compounded monthly? (Round your answer to the nearest...

##################>### #################j###########l###########i### ## ###################H#####bjbj#################### ###.4##h##h##...

B-29. SAVING FOR COLLEGE ? ? ? 21 Suppose you have $1000 to invest and know of two investment options. You can invest in bonds (which pay 8% simple interest) or put your money in a credit union...

Draw the binary search tree containing the following 11 values in the order shown and answer to question. 15 7 9 21 44 30 33 29 10 1 17 (in that order). Which is the inorder predecessor of 44 17

Display the number of pounds of milk produced in each region during the 2006-2010 time period. In addition, include in the output you display the total number of pounds of milk produced across all...

Janice has $ 5 , 0 0 0 invested in a bank that pays 1 1 . 0 % annually. How long will it take for her funds to triple? 1 0 . 3 2 years 1 0 . 5 3 years 9 . 6 8 years 1 0 . 1 1 years 1 0 . 4 2 years

What radio measurement study would you use for radio advertising in the top 10 metros of the country? Why? What limitations would you face?

Determine the x-and y-intercepts on the graph of the equation. Graph the equation. 6x - 7y = -42

Solve the equation (a) Graphically, (b) Numerically, and (c) Symbolically. Then solve the related inequality. |63x| = 3, 16-3x > 3

Use the intersection-of-graphs method to solve the equation. Then solve symbolically. x = 4-x

Question 6 ' f4 ' A normal population has a mean of ED and a standard deviation of 12. You select a random sample of 9. (Refer to a ZScore table} Compute the probability that the sample mean is: a....

Consider the following table: a. Calculate the values of mean return and vanance for the stock fund. (Do not round intermediate calculations. Roun "Mean return" value to 1 decimal plece and...

3 Suppose the following bond quotes for IOU Corporation appear in the financial page of today's newspaper. Assume the bond has a face value of $2,000 and the current date is April 19, 2018 Last Price...