Curtis decided to go on a road trip to Canada. On the first day of his trip, he drove for 10 hours and traveled 640 miles. At wh
at rate did he travel on the first day, in miles per hour?
2 answers:
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Answer:
The amount of money that should be invested at the rate of 5.25% is $12,000 and the amount money that should be invested at the rate of 4% is $13,000
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
I is the Final Interest Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
Let
x ------> the amount of money that should be invested at the rate of 5.25%
25,000-x -----> the amount money that should be invested at the rate of 4%
in this problem we have
substitute in the formula above
Solve for x
therefore
The amount of money that should be invested at the rate of 5.25% is $12,000 and the amount money that should be invested at the rate of 4% is $13,000