1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
laiz [17]
3 years ago
6

you have $6000 to invest in two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual intere

st. If after a year you have made $380 in interest, how much money did you invest i each account
Business
1 answer:
stira [4]3 years ago
8 0

Answer:

Amount of money invested is $2,000 and $4,000

Explanation:

In this question, we are asked to calculate how much was invested in two different accounts given the amount of money invested in both accounts.

Let the amount of money invested in both accounts be a and b respectively.

Mathematically;

A + B = 6000 ......I

Now we use the formula for simple interest to check the amount that is supposed to be made on Both accounts if he end of a year.

Formula for simple interest is I = PRT/100

Let’s apply this to what is on ground:

5*1* a/100 = 5a/100

Second is

9*b*1/100 = 9b/100

That is 5a + 9b = 38,000. ........ii

Solving Both simultaneously as follows:

Let A = 6000-b from 1

Substitute this into 2

5(6000-b) + 9b = 38,000

30,000 -5b + 9b = 38,000

4b = 8,000

b =$2000

This means a would be 6000 - 2,000 = $4000

You might be interested in
In 2019, Alliant Corporation acquired Centerpoint Inc. for $548 million, of which $98 million was allocated to goodwill. At the
ohaa [14]

Answer:

$48 million

Explanation:

In this scenario, we compare the values between book value including goodwill and the fair value of machinery, the difference would be the loss on impairment of the asset

In mathematically,  

= Book value including goodwill - fair value  

= $450 million - $402 million

= $48 million

All other information which is given is not relevant. Hence, ignored it

6 0
3 years ago
Miracle Green Corporation operates two garden supply stores: A and B. The following information relates to store A: Sales revenu
Volgvan

Answer:

A's segment profit margin is: $151,000

Explanation:

<u>Calculation of A's segment profit margin</u>

Sales revenue                                               $ 810,000

Less Variable operating expenses             ($319,000)

Controllable Contribution                             $491,000

Less Fixed expenses:

Traceable to A and controllable by A        ($230,000)

Traceable to A and controllable by others ($111,000)

Profit Margin                                                  $151,000

8 0
3 years ago
A firm has an issue of $1,000 par value bonds with a 12 percent stated interest rate outstanding. The issue pays interest annual
Mamont248 [21]

Answer:

c

Explanation:

4 0
3 years ago
What is a promotional strategy?
Citrus2011 [14]

Answer:

Promotional strategy is designed to inform, persuade, or remind target audiences about those products.

Explanation:

6 0
3 years ago
Read 2 more answers
Do It! Review 11-3a Incorrect answer. Your answer is incorrect. Try again. Riverbed Corp has 3,300 shares of 7%, $103 par value
harina [27]

Answer and Explanation:

1. The preferred stock is non-cumulative, and in previous years, the company has not skipped any dividends.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

2. The preferred stock is non-cumulative, and in both of the two previous years, the company did not pay a dividend.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

3. The preferred stock is cumulative, and in both of the two previous years the company did not pay a dividend.

Dividend paid to preferred shareholders =  Shares × Par value preferred stock × Shares percentage × Number of years

= 3,300 × $103 × 7% × 3

= $71,379

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $71,379

= $52,121

5 0
3 years ago
Other questions:
  • Partially amortizing mortgage loans require periodic payments of principal, but are not paid off completely over the loan's term
    11·1 answer
  • Scarcity: Group of answer choices
    8·1 answer
  • On January 1, 2021, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semi annually on June 30 and
    15·1 answer
  • Suppose the total monetary value of all final goods and services produced in a particular country in 2008 is $500 billion and th
    14·1 answer
  • A large film production company merges with a popular sound processing studio, resulting in the formation of a new company out o
    6·2 answers
  • Today, you are buying a $1,000 face value bond at an invoice price of $987. The bond has a coupon rate of 6 percent and pays int
    12·1 answer
  • During the fiscal year ended June 30, 20X9, the city of Moorhead constructed a new courthouse that was budgeted to cost $5,000,0
    14·1 answer
  • When is the only time to abbreviate on a job application? Question 3 options: In the Personal Information section In the Positio
    14·1 answer
  • Drag the tiles to the correct boxes to complete the pairs.
    14·1 answer
  • Assess the executive summary of the business plan. This is the part where the company's mission statement and the purpose of the
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!