Rex invested his savings of $2000 in a savings account that was earning simple interest at 3%

Question:

Rex invested his savings of $2000 in a savings account that was earning simple interest at 3% p.a. He also invested $1500 in his friend's business at 0.95% p.m. How much interest did he earn from both of these investments at the end of ten months?

AppendixLO1

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

Step by Step Answer:

Related Book For  book-img-for-question

Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

Question Posted: