Justin invests part of his $5,000 savings into an account earning 7.5% p.a. simple interest and part
Fantastic news! We've Found the answer you've been seeking!
Question:
Justin invests part of his $5,000 savings into an account earning 7.5% p.a. simple interest and part into a GIC (Guaranteed Investment Certificate) that earns 6.5% p.a. simple interest. If he gets $342.50 in interest from the two investments, calculate how much money he invested at each rate.
Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
Posted Date: