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
stepladder [879]
3 years ago
15

Pat invested a total of $3,000. Part of the money was invested in a money market account that paid 10 percent simple annual inte

rest, and the remainder of the money was invested in a fund that paid 8 percent simple annual interest. If the total interest earned at the end of the first year from these investments was $256, how much did Pat invest at 10 percent and how much at 8 percent
Business
1 answer:
adell [148]3 years ago
6 0

Answer:

$800 in account that pays 10% interest

$2,200 in account that pays 8% interest

Explanation:

Account A = Money market account that paid 10% simple annual interest

Account B = Money market account that paid 8% simple annual interest

W1 = Proportion of money invested in Account A

W2 = Proportion of money invested in Account B

W1 + W2 = 1

therefore, W1 = 1 - W2

Principle amount = $3,000

3000 x W1 = Amount of money invested in Account A

3000 x W2 = Amount of money invested in Account B

Total interest earned = $256

R1 = 10% simple interest on Account A

R2 = 8% simple interest on Account B)

Total Interest = (Principle x W1 x R1) + (Principle x W2 x R2)

256 = (3000 x W1 x 10%) + (3000 x W2 x 8%)

256 = 300 W1 + 240 W2

256 = 300 W1 + 240 ( 1 - W1)

256 = 300 W1 + 240 - 240 W1

16 = 60 W1

W1 = 16 / 60

W2 = 1 - W1 = 1 - (16/60) = 11/15

Amount of money invested in Account A = 3000 x W1 = 3000 x (16/60) = $800

Amount of money invested in Account B = 3000 x W2 = 3000 x (11/15) =$2,200

You might be interested in
which of the following would most likely have caused the production possibilities frontier to shift outward from a to b? group o
Anna71 [15]

General technological advance is most likely to cause the production possibilities frontier to shift outward from a to b.

Technology has always been vital for organisations, but in recent years, that importance has increased significantly. By definition, technology is the practical application of scientific knowledge, and it is obvious that in order for businesses to remain competitive, they must adopt new technologies. The importance of new technology for organisations can be attributed to a number of factors. First, firms can improve their production and efficiency by utilising modern technologies. This is so that workers may concentrate on other duties because new technologies sometimes automate operations that were previously performed manually. Additionally, by lowering their dependency on costly manual labour, new technology can assist firms in saving money. Finally, firms can frequently access new markets and clients thanks to new technologies.

Learn more about technological advance here:

brainly.com/question/8798227

#SPJ4

8 0
1 year ago
Amortizing a bond discount: Multiple Choice Decreases
Nutka1998 [239]

Answer:

Allocates a portion of the total discount to interest expense each interest period.

Explanation:

First, we understand that once a bond is issued at a discount, the first implication is the existence of a debit figure representing the discount on the bond issued.

However, the treatment of this discount figure is this:

First, the difference between the interest based on the effective interest rate of the carrying value of the bond and the interest based on the coupon rate on the face value of the bond is calculated. Once calculated, the discount figure is then amortized to the value of the difference between the two interest figures.

As such, amortizing discount on bonds affects the interest expense each interest period.

6 0
3 years ago
An organization’s offices consist of cubicles, shared areas, and conference rooms. This organization structure translates to the
natka813 [3]

Answer:

Openness, equality, creativity and flexibility

Explanation:

This is an example of material symbols

8 0
3 years ago
Suppose you have been employed for about a year and a half and have been offered a better job at a different employer. Assuming
Lyrx [107]
It all depends on the plan document. The plan document will state the waiting period, which can be a year, a vesting schedule, and your rights.

So more information is needed to answer your question. I can say with reasonable assurance you will be entitled to 100% of the money you put directly into the plan. The waiting period and vesting schedule will decide how much you are entitled to of the employers money.
4 0
3 years ago
I need help please..​
amm1812

Answer:

Changes in technology can affect the demand for different products or the demand for related products. It can increase the market for a product by increasing the demand for a new product and making an older product obsolete

Explanation:

When a firm discovers a new technology that allows it to produce at a lower cost, the supply curve will shift to the right as well. ... A technological improvement that reduces costs of production will shift supply to the right, causing a greater quantity to be produced at any given price.

8 0
3 years ago
Other questions:
  • Residence halls are typically found at all of the following schools except
    9·1 answer
  • Dawson states that he is Chairman of the Board and the Chief Executive Officer of the company. This makes him:
    9·2 answers
  • Assume that Delalo, Inc. is operating at full capacity. Also assume that assets, costs, and current liabilities vary directly wi
    11·2 answers
  • Suppose the demand function for good X is given by:
    13·1 answer
  • Suppose Best Buy is the only electronics store in a particular​ market, but RadioShack is thinking about entering the market. Be
    14·1 answer
  • What is an assessment of what you own and what you owe?
    9·2 answers
  • With the total performance indicators in place at Sears, it can evaluate if a single store improves its employee attitude by 5 p
    14·1 answer
  • Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the
    6·1 answer
  • You will die when you poop in the bed
    9·2 answers
  • chen is looking for information for a speech about starting your own business. what is the best example of a periodical chen mig
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!