FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Melanie invested $2800 at the beginning of 2001 in two different stocks, Ramanar Corp. and Bakery Brothers. Ramanar Corp. earned 6% simple interest for the

Melanie invested $2800 at the beginning of 2001 in two different stocks, Ramanar Corp. and Bakery Brothers. Ramanar Corp. earned 6% simple interest for the year, while Bakery Brothers earned 9%. In total, Melanie earned $213 for the year. How much was invested in each stock?

Step by Step Solution

★★★★★

3.42 Rating (155 Votes )

There are 3 Steps involved in it

Step: 1

Lets assume Melanie invested X dollars in Ramanar Corp and 2800 X dollars in Bakery Broth... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Advanced Accounting In Canada

Modern Advanced Accounting In Canada

Authors: Hilton Murray, Herauf Darrell

7th Edition

1259066487, 978-1259066481

More Books

Students also viewed these Finance questions

Question

★★★★★
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...

Answered: 1 week ago

Question

★★★★★
a. Stock market index information: S&P 500 (stock) index level: Nasdaq Composite (stock) index level: b. Interest rate information : Prime rate: Federal funds rate: Commercial paper rate (90 days):...

Answered: 1 week ago

Question

★★★★★
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...

Answered: 1 week ago

Question

★★★★★
In designing an experiment, the researcher can often choose many different levels of the various factors in order to try to find the best combination at which to operate. As an illustration, suppose...

Answered: 1 week ago

Question

★★★★★
Assume that the court does find that the contract falls within the Statute of Frauds and that the state in which the court sits recognizes every exception to the Statute of Frauds discussed in the...

Answered: 1 week ago

Question

★★★★★
Anna, who cannot read English, signs a promissory note after Ted, her attorney, tells her that it is a credit application. Anna has a. a defense of fraud maintainable against a holder or an HDC. b. a...

Answered: 1 week ago

Question

★★★★★
Shyness and Self-Esteem People who are shy are more likely to experience loneliness than people who are not shy. Research the topic of shyness on the Internet. Are there different types of shyness?...

Answered: 1 week ago

Question

★★★★★
The machine element shown is fabricated from steel. Determine the mass moment of inertia of the assembly with respect to (a) The x axis, (b) The y axis, (c) The z axis. (The specific weight of steel...

Answered: 1 week ago

Question

★★★★★
matlab 1) Solve the following system of equations x1+x2+x3=32x1+2x2+x3=2x1+x3=3 a) using Gauss the matrix inverse using the Gauss-Jordan method (augmenting the b) calculating with the identity...

Answered: 1 week ago

Question

★★★★★
You are given the following payoff table (in units of thousands of dollars) for a decision analysis problem: (a) Which alternative should be chosen under the maximin payoff criterion? (b) Which...

Answered: 1 week ago

Question

★★★★★
The combination of exporting an immense amount of raw materials and _____ provides Australians with a high standard of living. Group of answer choices agricultural products an extremely low inflation...

Answered: 1 week ago

Question

★★★★★
Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production $...

Answered: 1 week ago

Question

★★★★★
Jennifer Prescott, age 47, has developed chest pain and difficulty breathing Jennifer has had several episodes of coughing up thick blood-tinged sputum A diagnostic bronchoscopy is performed and a...

Answered: 1 week ago

Question

★★★★★
Which option best describes traits of adaptive/agile development approaches? A) Iterative and incremental development approaches, constant feedback loops, changes are expected B) Planning,...

Answered: 1 week ago

Question

★★★★★
SECTION 2 READING STUDY GUIDE Economic Choice Today: Opportunity Cost Before You Learned The economic problem of scarcity guides economists to ask and answer basic questions about the economy. Now...

Answered: 1 week ago

Question

★★★★★
Which of the following statements is not true regarding incremental and iterative development approaches? A) Both incremental and iterative approaches are used in adaptive projects. B) Both...

Answered: 1 week ago

Question

★★★★★
on June 1, Fancher Company LTD borrows $60,000 from First Bank on a 6 month $60,000, 8% note. The note matures on December December 1. instructions: a. prepare the entry on June 1 b. prepare the...

Answered: 1 week ago

Question

★★★★★
When is the indirect pattern appropriate, and what are the benefits of using it?

Answered: 1 week ago

Question

★★★★★
If a gain or a loss is realized by a parent company as a result of the sale of a portion of the investment in a subsidiary, should the gain or loss be eliminated in the preparation of the...

Answered: 1 week ago

Question

★★★★★
On December 31, Year 1, RAV Company purchased 60% of the outstanding common shares of ENS Company for $780,000. On that date, ENS had common shares of $500,000 and retained earnings of $120,000. In...

Answered: 1 week ago

Question

★★★★★
Baker Corporation has the following account balances at December 31, Year 4: Receivables ............ $ 80,000 Inventory .............. 200,000 Land ............... 600,000 Building (net) .............

Answered: 1 week ago

Question

★★★★★
Exercise 33 shows the results of a Gallup Poll about energy. Suppose we select three people at random from this sample. Response Number Oil, gas, coal .. 164 Wind and solar .. 312 Equally Important...

Answered: 1 week ago

Question

★★★★★
To get to work, a commuter must cross train tracks. The time the train arrives varies slightly from day to day, but the commuter estimates he'll get stopped on about 15% of work days. During a...

Answered: 1 week ago

Question

★★★★★
A certain bowler can bowl a strike 70% of the time. If the bowls are independent, what's the probability that she a) Goes three consecutive frames without a strike? b) Makes her first strike in the...

Answered: 1 week ago

Previous Question Next Question