You invested $20,000 in two accounts paying 7% and 9% annual interest. If the total interest earned
Question:
You invested $20,000 in two accounts paying 7% and 9% annual interest. If the total interest earned for the year is $1550, how much was invested at each rate?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Let x the amount invested at 7 Let 20000 ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
You invested $7000 in two accounts paying 6% and 8% annual interest. If the total interest earned for the year was $520, how much was invested at each rate?
-
You invested $11,000 in two accounts paying 5% and 8% annual interest. If the total interest earned for the year was $730, how much was invested at each rate?
-
You invested $80,000 in two accounts paying 5% and 7% annual interest. If the total interest earned for the year was $5200, how much was invested at each rate?
-
Are the marks one receives in a course related to the amount of time spent studying the subject? To analyze this mysterious possibility, a student took a random sample of 10 students who had enrolled...
-
Briefly define the term electronic commerce, and identify five forms of electronic commerce based on the parties involved in the transactions.
-
Four small disks A, B, C, and D can slide freely on a frictionless horizontal surface. Disks B, C, and D are connected by light rods and are at rest in the position shown when disk B is struck...
-
What is a supply chain? Describe five important factors in supply chains. LO.1
-
Heron Company purchases commercial realty on November 13, 1997, for $650,000. Straight-line depreciation of $287,492 is claimed before the property is sold on February 23, 2015, for $850,000. What...
-
please answer to the question, M20-3. thanks. the --to- 7M20-3 For a lease that transfers ownership of the prop- LO 20.4 erty to the lessee by the end of the lease term, the lessee should: a. record...
-
In Exercises 6263, use transformations of your graph from Exercise 61 to graph each function. Data from Exercise 61 Use point plotting to graph f(x) = 2 x . Begin by setting up a partial table of...
-
In Exercises 9598, use long division to rewrite the equation for g in the form Then use this form of the functions equation and transformations of f(x) = 1/x to graph g. quotient + remainder divisor
-
In 2002 the audit firm Arthur Andersen collapsed following charges brought against it in the United States relating to the failure of its client, Enron. Some other clients announced that they would...
-
Allison, Inc., produces two products, X and Y, in a single joint process. Last month the joint costs were P75,000 when 10,000 units of Product X and 15,000 units of Product Y were produced....
-
8+0.5 = 4. Consider a system with a lead compensator Ge(s) = +0.13 followed by a plant G(s) = 10 Determine a value for a gain K on the error signal such that the phase margin s(s+1) of the open-loop...
-
Standard Normal Distribution. In Exercises 17-36, assume that a randomly selected subject is given a bone density test. Those test scores are normally distributed with a mean of 0 and a standard...
-
After making several improvements in the east process, you now want to put controls in place to detect new problems if they occur. To help with this, the workers collected a sample of 5 capsules each...
-
Help es ! Required information The box shown has cardboard sides and wood strips along the edges and from corner to corner. The strength of the box is provided primarily by the wood strips, and a...
-
Explain the differences among job simplification, job enlargement, job rotation, and job enrichment. What impact do these different job designs have on workers?
-
In Exercises 105108, evaluate each expression without using a calculator. log(ln e)
-
Match the situation with the graph (a-d) that models it best, where x-values represent time. Height of the Empire State Building from 1990 to 2010 a. y b. y d.
-
Determine whether the equation is linear or nonlinear by trying to write it in the form ax + b = 0. 3x - 1.5 = 1
-
Match the situation with the graph (a-d) that models it best, where x-values represent time. Average cost of a new car from 1980 to 2010 a. y b. y d.
-
nformation pertaining to Noskey Corporation s sales revenue follows: November 2 0 2 1 ( Actual ) December 2 0 2 1 ( Budgeted ) January 2 0 2 2 ( Budgeted ) Cash sales $ 1 0 5 , 0 0 0 $ 1 1 5 , 0 0 0...
-
The management team of Netflix maintains a stable dividend using the Lintner model: Dt+1 = Dt + EPS Target Payout Where Dt (Dt+1) = dividend in the current period t (the next period t + 1) EPSt =...
-
#1 #2 hapter 50 10 D Werences lav Help Required information [The following information applies to the questions displayed below) Archer Company is a wholesaler of custom-built air-conditioning units...
Study smarter with the SolutionInn App