Amanda plans to invest $20,000, part of it at a 9% interest rate and part of it

Question:

Amanda plans to invest $20,000, part of it at a 9% interest rate and part of it in a safer fund that pays 6%. How much should be invested in each fund to yield an annual return of $1560?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications For The Management, Life And Social Sciences

ISBN: 9781337625340

12th Edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Oct 06, 2020 12:17 AM

See More Questions

Precision Machining Corporation has been growing steadily over the past decade. Demand for the companys products continues to rise, so management has decided to expand the production facility;...
Amanda and Yvonne are thinking of going out to the movies. Amanda likes action flicks more, but Yvonne likes a little bit of romance. Warner Bros. is trying to decide what kind of movies to make this...
1. Harold just hit the jackpot in Las Vegas and won $25,000! If he invests it now, at a 10% interest rate, how much will it be worth 15 years from now? 2. Curtis would like to have $3,000,000 saved...
Calculate the heat released as 35.5 g of copper (0.0920 cal/g x C) cools from 50.0 C to 25.0 C.
Compute. Write the answer using scientific notation. (a) (4.2 107) (3.2 10-2) (b) (8.3 10-15) (7.7 104) (c) (2.6 10-18) (8.5 107)
The expected effect on market efficiency of opening a securities market to trading by foreigners would be to: A. Decrease market efficiency. B. Leave market efficiency unchanged. C. Increase market...
At a location $25 \mathrm{~mm}$ away from a long, straight currentcarrying wire, the magnitude of the magnetic field due to the wire is $2.0 \times 10^{-5} \mathrm{~T}$. Calculate the magnitude...
The following balances were taken from the general ledger of Holland Company on January 1, 2012: During 2012, the company completed the following transactions: a. Purchased inventory for $95,000 on...
1. 2. 3. (c) 11 Let f : R R be a continuous function such that f(3x)-f(x) =. If f(8) = 7, then f(14) is equal to: (a) 4 (b) 10 (d) 16 Let O be the origin and A be the point z = 1 + 2i. If B is the...
Use the first eight rules of inference to derive the conclusions of the following symbolized arguments: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26....
An airline has 360 seats on a plane for one of its flights. If 90% of the people making reservations actually buy a ticket, how many reservations should the airline accept to be confident that it...
In Problem solve each equation by factoring. x = x 2
Give the radian measure of each angle described.
True Or False To defend themself against charges of false imprisonment by a customer detained for shoplifting, the merchant must show that there were reasonable grounds for the detention and that the...
True Or False An employer is vicariously liable for negligent acts engaged in by an employee while traveling to and from work.
Can a landlord use force to evict a holdover tenant?
True Or False Confinement for purposes of false imprisonment can be achieved by threats even if those threats consist of the defendants body language or are directed at someone other than the...
True Or False Merely obstructing a plaintiff from taking the route they prefer is grounds for false imprisonment.
An automotive workers union, in conjunction with top management, is negotiating a new hourly pay policy for union workers based on three variables: (1) job class, (2) years with the company, and (3)...
Catherine (aged 42) and Johnson (aged 45) have been married for 12 years. Johnson is a project manager of an event company at a monthly salary of $55,000 with an additional one-month salary of...
Two balls are drawn, without replacement, from a bag containing 13 red balls numbered 1-13 and 5 white balls numbered 14-18. What is the probability that (a) The second ball is red, given that the...
A red die and a green die are rolled. What is the probability that a 6 results on the green die and that a 4 results on the red die?
What is the probability that a person selected at random from this group will favor reducing industries' carbon emissions, given that the person is a Democrat? The table gives the results of a survey...
a) Give examples of low, medium and high strain rate test types. [4 marks] b) A plot of log (stress) against log (strain rate) provides a straight line relationship. Based on this, provide an...
3- Let the density of the pyramid material be p = 2000 kg/m. Determine the average normal stress at a cross section located at x measured from the apex. Express the stress as a function of x. Assume...
You are designing a wing with no aerodynamic twist based on the airfoil camber given by: N C 3.1 (H-H) = 0.1 The wing will have an aspect ratio of 10, a taper ratio of 0.8, and a constant geometric...

Amanda plans to invest $20,000, part of it at a 9% interest rate and part of it

Question:

Step by Step Answer:

x amount invested at 9 y amount in...View the full answer

Mathematical Applications For The Management, Life And Social Sciences

Students also viewed these Mathematics questions