Sam invested $7700, some at 6.8% interest and the rest at 9%. How much did he invest

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

Question:

Sam invested $7700, some at 6.8% interest and the rest at 9%. How much did he invest at each rate if he received $631.40 in interest in one year?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

See More Books

Posted Date: Mar 09, 2023 12:12 AM

See More Questions

Sedki earned $119,750 in 2014. How much did he pay in Social Security taxes? In Medicare taxes? In total FICA taxes?
If you invest $10,000 at 8%, how much will your investment be worth at the end of the following time periods? a) 5 years b) 10 years c) 15 years
How much did High Liner expense for interest in 2010 and 2011? How much did it pay in interest to lenders? Why might these amounts be different?
At DEF Insurance Company, agents are employees of the company who are paid a salary plus commissions. This is an example of what type of insurance marketing system? OA) Fraternal B) Direct response...
The controller oversees a. Production processes. b. The management of cash. c. Providing accounting information to managers.
Your presentation of the case Lochner v New York was very well put together and was easy to understand with the supportive information. The Supreme Court's decision in the Bakeshop Act was ethical...
An ideal gas flows with velocity $V$, pressure $p$, temperature $T$, and density $ho$. Determine a set of equations for stagnation properties, including entropy, if the stagnation process is...
In Fig. 29.23 the capacitor plates have area 5.00 cm2 and separation 2.00 mm. The plates are in vacuum. The charging current ic has a constant value of 1.80mA. At t = 0 the charge on the plates is...
Determine the centroid of the following objects (in x,y format). Object A is solid. Object B ios not solid, and is made from bars of equal mass/meter. (0,0) 12 m 6m (0,0) 6m 14m 5m 3m This is a Solid...
"Part 1: The Performance Lawn Equipment database contains data needed to develop a pro forma income statement. Dealers selling PLE products all receive 18% of sales revenue for their part of doing...
You need $10,000 to buy a car: You can either : 1- Take a Loan term which is 4 years at annual Interest rate: 9% 2- Take a Loan term which is 5 Years at annual interest rate 10%. Which deal is...
A particular investment generates the following cash flows: $5 Million end of year one; $5 Million end of year two; $5 Million end of year three; $7 Million end of year four; and $10 Million end of...
Describe the sources of individual power. Within this context, which type of power do you believe to be most significant in a research team within the Faculty of Business Administration, such as the...
3. Find the inverse Laplace Transform: a) F(s) = S-2 b) F(s) 1-e c) F(s)=- s+1 1 (s+1)(s-1)
2. A Corporation issues a bond with a face value of $250,000 and a stated rate of 8% interest. The interest is paid annually during the bond's 10-year life. The market rate for a similar bond is 6%....
Which country has the comparative advantage? What is the opportunity cost? What the production pre specialisation? What is the production post specialisation? By how much has production in both goods...
New equipment costs $999,000 and is expected to last for five years with the salvage value of 13% of the equipment cost. During this time the company will use a 20% CCA rate. The new equipment will...
(a) Water flows through the nozzle of a garden hose. Find an expression for m in terms of line pressure P 1 , ambient pressure P 2 , inside hose diameter D 1 , and nozzle outlet diameter D 2 . Assume...
Sophie is a single taxpayer. For the first payroll period in October 2012, she is paid wages of $3,250 monthly. Sophie claims three allowances on her Form W-4. a. Use the percentage method to...
How are qualified dividends taxed in 2012? Please give the two rates of tax which apply to qualified dividends, and specify when each of these rates applies._________________________...
The following additional information is available for the Dr. Ivan and Irene Incisor family. Ivan and Irene have the following investment income, in addition to that reported in Chapter 1: Dividends...
The following are sample data provided by a moving company on the weights of six shipments, the distances they are moved, and the damage that was incurred: (a) Fit an equation of the form...
The rise of current in an inductive circuit having the time constant $\tau$ is given by \[I=1-e^{-t / \tau}\] where $t$ is the time measured from the instant the switch is closed, and $I$ is...
With reference to Exercise 11.9, (a) find a 95% confidence interval for the mean current density when the strain is $x=0.50$; (b) find 95% limits of prediction for the current density when a new...

Sam invested $7700, some at 6.8% interest and the rest at 9%. How much did he invest

Question:

Expert Answer:

sol Lets call the amount invested at 68 interest x and the amount inve... View the full answer

Income Tax Fundamentals 2013

Students also viewed these mathematics questions