You invested $19,000 in two accounts paying 6% and 8% annual interest respectively. If the total interest

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

Question:

You invested $19,000 in two accounts paying 6% and 8% annual interest respectively. If the total interest earned for the year was 1500, how much was invested at each rate?

Related Book For answer-question

College Accounting A Practical Approach

ISBN: 978-0133133233

12th edition

Authors: Jeffrey Slater

See More Books

Posted Date: Dec 10, 2020 10:23 PM

See More Questions

If the total interest earned on an investment at 6.6% compounded monthly for 3 1/2 years was $1683.90, what was the original investment?
If the total interest earned on an investment at 8.2% compounded semiannually for 8 1/2 years was $1175.98, what was the original investment?
You invested 16000 in two accounts paying 2% and 5% respectively. If the total interest earned for the year was $350, how much was invested at each rate?
Suppose you have a subject property with a 105,000 sq. ft. lot and existing improvements for which you estimate the reproduction cost new to be $2,500,000, physical deterioration to be $400,000,...
Louis incurs directly related entertainment expenses of $4,000, but he is reimbursed by his employer for only $3,000 after an adequate accounting is made. a. How are these amounts reported on Louiss...
An accountant has extracted the following information related to the company: The accountants estimate of ending retained earnings would be: A. 25 million B. 95 million C. 5 million Assets...
Which cost is not recorded as part of the cost of a building? a. Construction materials, labor, and overhead b. Annual building maintenance C. Real estate commission paid to buy the building d....
Assume that Atlas Sporting Goods Inc. has $840,000 in assets. If it goes with a low-liquidity plan for the assets, it can earn a return of 15 percent, but with a high-liquidity plan the return will...
Motor Corp. manufactures machine parts for boat engines. The CEO, James Hamilton, is considering an offer from a subcontractor who would provide 3,000 units of product AB100 for Hamilton at a price...
Alabama Atlantic is a lumber company that has three sources of wood and five markets to be supplied. The annual availability of wood at sources 1, 2, and 3 is 15, 20, and 15 million board feet,...
In February 1998, U.S. President Bill Clinton was under investigation for allegedly having had an extramarital affair. A Gallup Poll asked the following two questions: Do you think most presidents...
A sample of 61 houses recently listed for sale in Silver Spring, Maryland, was selected with the objective of developing a model to predict the asking price (in \$thousands), using the living space...
A certain flight arrives on time 87 percent of the time. Suppose 149 flights are randomly selected. Use the normal approximation to the binomial to approximate the probability that (a) exactly 127...
Well-being has become in important development indicator beyond economic welfare. There are several components of wellbeing and different measures to quantify it. A development economist collects...
In the Healthy Handwashing Survey conducted by Bradley Corporation, it was found that 64% of adult Americans operate the flusher of toilets in public restrooms with their foot. Suppose you survey a...
a. Draw a curve showing the following situation. As a firm hires more workers (X), its total revenue (Y) increases. However, total revenue increases at a decreasing rate such that each worker adds...
You want to evaluate three mutual funds using the Sharpe measure for performance evaluation. The risk-free return during the sample period is 4%. The average returns, standard deviations and betas...
An example of prescriptive analytics is when an action is recommended based on previously observed actions. For example, an analysis might help determine procedures to follow when new accounts are...
From the general journal in Figure, record to the accounts payable subsidiary ledger and post to general ledger accounts asappropriate. GENERAL JOURNAL Page 2 Date 201X Jun. 3 Purchases PRI Dr...
A machine that cost $9,020 with $3,990 of accumulated depreciation was traded in for a similar machine having a $5,880 cash price. An $810 trade-in was offered by the seller. a. Calculate the book...
Complete thefollowing: Account a. Gain on Sale of Plant Assets b. Accumulated Depletion C. Loss on Disposal of Plant Assets Category Financial Statement Found on
Fill in the Blanks. A system undergoing simple harmonic motion is called $a(n)$ __________ oscillator.
Fill in the Blanks. The free vibration of an undamped system represents interchange of__________ and energies __________.
True or False. In the $s$-plane, the locus corresponding to constant natural frequency will be a circle.

You invested $19,000 in two accounts paying 6% and 8% annual interest respectively. If the total interest

Question:

Expert Answer:

College Accounting A Practical Approach

Students also viewed these mathematics questions