Suppose he invested x at 3%.
Then x*3/100 + (13000-x)*2/100 = 340
=> 3x + 26000 - 2x = 34000
=> x = 34000 - 26000 = 8000.
So 8000 at the higher rate and 5000 at the lower.
Suppose he invested x at 3%.
Then x*3/100 + (13000-x)*2/100 = 340
=> 3x + 26000 - 2x = 34000
=> x = 34000 - 26000 = 8000.
So 8000 at the higher rate and 5000 at the lower.
Suppose he invested x at 3%.
Then x*3/100 + (13000-x)*2/100 = 340
=> 3x + 26000 - 2x = 34000
=> x = 34000 - 26000 = 8000.
So 8000 at the higher rate and 5000 at the lower.
Suppose he invested x at 3%.
Then x*3/100 + (13000-x)*2/100 = 340
=> 3x + 26000 - 2x = 34000
=> x = 34000 - 26000 = 8000.
So 8000 at the higher rate and 5000 at the lower.
Suppose he invested x at 3%.
Then x*3/100 + (13000-x)*2/100 = 340
=> 3x + 26000 - 2x = 34000
=> x = 34000 - 26000 = 8000.
So 8000 at the higher rate and 5000 at the lower.
It depends on the interest rate at which the amount is invested.
If an amount C is invested for n years with an interest rate of r%, then the amount of interest earned is C*n*r/100
Take a breath, and start thinking of things in mathematical termsThe amount invested in the CD is unknown, so we can call it X.The amount invested in the Savings Bond (SB) is the remainder, so we can call it (5000 - X).The interest on the CD for one year is 0.04 times X or 0.04X.The interest on the SB for one year is 0.07 times (5000 - X) or 0.07(5000 - X).You know the total interest from both for the year is 300, so you now can make an equation:0.04X + 0.07(5000 - X) = 300All you need to do is expand the expression and move the variable to one side of the equation and solve for X.
The answer will depend on the amount invested and the interest rate. Information on neither is provided in the question.
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200
The amount of interest J.P. will earn is a function of the amount he invests.
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The highest interest rates for a one year investment depend upon the amount of money invested and the risk factor involved. If one invests $2,500 with Discover Bank and purchases a CD for one year, the interest rate is .85%.
It depends on the interest rate at which the amount is invested.
The amount of capital that a physician has invested in the practice is referred to as the principle amount. The principle amount is usually expected to earn interest over time.
If an amount C is invested for n years with an interest rate of r%, then the amount of interest earned is C*n*r/100
Income is money coming in; it could be wages or capital gains, or interest on money invested. Interest is a percentage of money owed added to your bill when borrowing money, or the amount that you earn on money invested.
Take a breath, and start thinking of things in mathematical termsThe amount invested in the CD is unknown, so we can call it X.The amount invested in the Savings Bond (SB) is the remainder, so we can call it (5000 - X).The interest on the CD for one year is 0.04 times X or 0.04X.The interest on the SB for one year is 0.07 times (5000 - X) or 0.07(5000 - X).You know the total interest from both for the year is 300, so you now can make an equation:0.04X + 0.07(5000 - X) = 300All you need to do is expand the expression and move the variable to one side of the equation and solve for X.
Many times when solving word problems, it's harder to figure out the question and the formulas to use than it is to do the algebra itself. So let's try to figure this out.We'll let x be the amount of money the guy invested at 3 percent.We'll let 8000 - x be the rest of it, which he invested at 4 percent.That means that 0.03 * x is the amount of interest he earned on the money invested at 3 percent, and 0.04 * (8000 - x) is the amount he earned at 4 percent.We also know that those two values add up to 275 dollars, so we can write the following equation: 0.03x + 0.04(8000 - x) = 275. Solving for x, we get0.03x + 0.04(8000 - x) = 2750.03x + 320 - 0.04x = 275-0.01x = -45x = 4500So 4500 is the amount invested at 3 percent. The rest, 8000 - 4500 = 3500, is invested at 4 percent. How do you get -0.01x=-45
The answer will depend on the amount invested and the interest rate. Information on neither is provided in the question.
A compound interest calculator is used for determining how much your invested money can make you in it's lifetime of being invested. This is useful in telling you how much a certain amount of money will make you when it matures.
Let P be the amount of invested money. Then, .08P = 336 P = 336/.08 = 4,200