Solve each problem. Cookbook Royalties Becky earned $48,000 from royalties on her cookbook. She paid a 28%
Question:
Solve each problem.
Cookbook Royalties Becky earned $48,000 from royalties on her cookbook. She paid a 28% income tax on these royalties. The balance was invested in two ways, some of it at 3.25% interest and some at 1.75%. The investments produced $904.80 interest per year. Find the amount invested at each rate.
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Step by Step Answer:
28 of 48000 is 13440 so after paying her income tax Becky had 34560 left to inv...View the full answer
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Related Book For 
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
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