How much is invested at 8% if the total amount of interest, Mathematics

Assignment Help:

Kevin invested $4,000 in an account which earns 6% interest per year and $x in a different account that earns 8% interest per year. How much is invested at 8% if the total amount of interest earned annually is $405.50?

Let x = the amount invested at 8% interest. Since the total interest is $405.50, use the equation 0.06(4,000) + 0.08x = 405.50. Simplify the multiplication: 240 + 0.08x = 405.50. Subtract 240 from both sides: 240 - 240 + 0.8x = 405.50 - 240; simplify: 0.08x = 165.50. Divide both sides by 0.08: 0.08x/0.08=165.50/0.08. Thus, x = $2,068.75, that is the amount invested at 8% interest.


Related Discussions:- How much is invested at 8% if the total amount of interest

If oa = ob = 14cm, If OA = OB = 14cm, ∠AOB=90 o , find the area of shaded r...

If OA = OB = 14cm, ∠AOB=90 o , find the area of shaded region.  (Ans:21cm 2 ) Ans:    Area of the shaded region = Area of ? AOB - Area of Semi Circle = 1/2  x 14 x

Math, is this free for LIFE that means forever never ever going to pay

is this free for LIFE that means forever never ever going to pay

Find out the center of mass, Find out the center of mass for the region bou...

Find out the center of mass for the region bounded by y = 2sin (2x), y =0 on  the interval  [0 , Π/2] Solution Here is a sketch (diagram) of the region along with the cent

They preferred comedies, A survey was done where a random sample of people ...

A survey was done where a random sample of people 18 and over were asked if they preferred comedies, dramas, or neither. The information gathered was broken down by age group and t

Linear programming , use the simplex method to solve the following lp probl...

use the simplex method to solve the following lp problem. max z = 107x1 + x2 + 2x3 subject to 14x1 + x2 - 6x3 + 3x4 = 7 16x1 + x2 - 6x3 3x1 - x2 - x3 x1,x2,x3,x4 > = 0

Compute the center of mass of the solid, 1) Compute the center of mass of t...

1) Compute the center of mass of the solid of unit density 1 bounded (in spherical coordinates) by p=1 and by φ is greater than or equal 0 and less than or equal pi/4

the comic book, a) The first comic book is of shakitman was sold in 1938. ...

a) The first comic book is of shakitman was sold in 1938. In 2010, the estimated price for this comic book in good condition was about $500,000. This represented a return of 25 per

Properties of triangle, In triangle ABC if angle B = 90 degrees what is the...

In triangle ABC if angle B = 90 degrees what is the value Tan A/2 in terms of its sided? Solution) tanA=c/b let tan(A/2)=x 2x/(1-x 2 )=c/b,solve for x

Linear Equations of Parallel Lines, A line has the equation 2y=-3x+1. Find...

A line has the equation 2y=-3x+1. Find an equation of a line parallel to this line that has a y-intercept of -2.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd