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
You are the manager of a theater. At present the theater charges the same admisssion price of $8 to all customers, regardless of
Goshia [24]

Answer:

Explanation:

Provided that the demand is inelastic, there would be an increment in revenue.

Total revenue is calculated as the quantity of a good sold multiplied by its price.

There is a close interrelation between price elasticity of demand and total revenue, in the sense that they deal with the same two variables - which are price and quantity.

If the product has an elastic demand, revenue can be increased by decreasing the price of the good. Q will increase at a greater rate, while  P will decrease,  thereby, increasing the total revenue.

If the product has an inelastic demand, then the prices of goods can be increased and sold slightly less of that item but a higher revenue must be obtained.

7 0
3 years ago
A lawnmower manufacturer estimates that the probability of a fatal accident caused by the design of its product is 1/10,000 and
Wewaii [24]

Answer:

790,000, i.e. $79 x 10,000= 790,000 . Yes, the manufacturer should change the design.  666,667 (when it goes from 1/10,000 to 1/15,000).  It is 500,000 (when it goes from 1/10,000 but ​1/20​,000) . No, the benevolent social planner would not agree with the manufacturer's decision.

Explanation:

In the estimates provided by the manufacturer, the total cost of the design is equivalent to  $79 x 10,000= 790,000. There should be an alteration in the design to remove the necessary precautions. If the probability is different from the estimate provided by the manufacturer, the planner will disagree with the decision made by the manufacturer. For example, a change to 1/15000 will make the total cost to be approximately $666,667.

3 0
3 years ago
Litigation, arbitration and mediation are
GalinKa [24]

Answer:

all binding forms of dispute resolution

Explanation:

Resolution of disputes has 2 types of processes.

<u><em>Adjudicative processes</em></u>, such as litigation or arbitration, in which a judge, jury or arbitrator determines the outcome.

<u><em>Consensual processes, </em></u>such as collaborative law, mediation, conciliation, or negotiation, in which the parties attempt to reach agreement.

In both of the above processes the parties most bind to the final decision conceived.

7 0
3 years ago
The rule of law is important because it _______. In regard to governments, the rule of law _______.
blondinia [14]
Blank 1. Protect citizens from crime and justice
Blank 2. Applies to them in only certain cases
7 0
3 years ago
Tucker Company makes chairs. Tucker has the following production budget for January - March. January February March Units Produc
ziro4ka [17]

Answer:

Total= 45,684 feet

Explanation:

Giving the following information:

Production budget:

February= 10,993

March= 8,559

Each chair produced uses 5 board feet of wood.

Management wants an ending inventory level of raw materials to equal 20% of the production needs (in wood) for the next month.

Direct material budget:

Production= 10,993*5= 54,965

Desired ending inventroy= (8,559*5)*0.2= 1,712

Beginning inventory= (10,993*5)*0.2= (10,993)

Total= 45,684 feet

6 0
3 years ago
Other questions:
  • Flaherty is considering an investment that, if paid for immediately, is expected to return $140,000 five years from now. If Flah
    6·1 answer
  • If your company’s product is dry soup mixes and canned soups, would a multidomestic strategy, a transnational strategy, or a glo
    13·1 answer
  • Nelson Mfg. owns a manufacturing facility that is currently sitting idle and is debt-free. The facility is located on a piece of
    15·1 answer
  • Which strategy works best to help people feel more comfortable in meetings?
    6·1 answer
  • Positively-framed marketing messages are generally more persausive than negatively-framed marketing messages.
    6·1 answer
  • A firm whose production process exhibits constant returns to scale would find that if it doubled all of its inputs, its output w
    10·1 answer
  • The short-run effects of an increase in the expected price level include a. a lower level of output and a lower price level. b.
    14·1 answer
  • Liam is considering putting money in an investment plan that will pay him $52,000 in 12 years. If Liam's opportunity cost rate i
    5·1 answer
  • You would like to retire in 30 years. The expected rate of inflation is 2% per year. You currently have a standard of living tha
    14·1 answer
  • Transactions for Jayne Company for the month of June are presented below.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!