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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

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A new tax on gasoline causes a reduction in the purchase of new vehicles with poor fuel economy. This is an example of what type
Ugo [173]

Answer:

Option (C) is correct.

Explanation:

Negative Indirect.

This is due to the indirect affect of tax on the purchase of new vehicle because a new tax on gasoline reduces the consumers incentive to the buy the new vehicles. Therefore, it is a negative indirect incentive.

Also, there is a fall in the number of cars or vehicles purchased because of the tax imposed on the gasoline.

7 0
3 years ago
As a firm's sales grow, its current assets also tend to increase. For instance, as sales increase, the firm's inventories genera
yanalaym [24]

Answer: True

Explanation:

Current assets are the assets that a company had and which are expected to be either used or sold over the next year. Examples of current assets are cash, cash equivalents, stock inventory, accounts receivable, marketable securities, and other liquid assets.

It should be noted that when the sales of a from continue to grow, the current assets of such company also increases. An example is when there is an increase in the sales increase, this.will also have an impact on the firm's inventories as there will be an increase.

6 0
3 years ago
Henri earned a salary of $50,000 in 2001 and $70,000 in 2006. The consumer price index was 177 in 2001 and 265.5 in 2006. Henri'
kvv77 [185]

Answer:

$46,666.67

Explanation:

Henri earned a salary of $50,000 in 2001

He earned $70,000 in 2006

The consumer price index in 2001 was 177 and in 2006 was 265.5

Therefore his salary in 2001 can be calculated as follows

= 70,000/265.5 × 177

= 263.65 × 177

= 46,666.67

3 0
3 years ago
Given the following financial data for Boston Technology, compute the firmâs degree of combined leverage.
Otrada [13]

Answer:

For year 2010

Degree of combined leverage is 3.82

For year 2011

Degree of combined leverage is 4.11

Explanation:

Computing the degree of combined leverage of the firm with the formula stated below as:

Degree of combined leverage = Contribution margin / EBT

where

Contribution margin is computed as:

Contribution margin = Sales - Variable Cost

EBT (Earnings Before tax) is computed as:

EBT = EBIT - Interest

Now, computing the same by applying the formula:

For year 2010

Contribution margin = $700,000 - $406,000

= $294,000

EBT = $119,000 - $42,000

= $77,000

Degree of combined leverage = $294,000 / $77,000

= 3.82

For year 2011

Contribution margin = $760,000 - $448,000

= $312,000

EBT = $122,000 - $46,000

= $76,000

Degree of combined leverage = $312,000 / $76,000

= 4.11

7 0
3 years ago
According to dr. w. edwards deming's quality movement, quality efforts need to be _____ and _____ improved.
natka813 [3]

According to dr. w. Edwards Deming's quality movement and quality efforts need to be constantly and consistently improved.

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In the 1930s, Deming was intrigued by the idea of ​​using statistics to improve quality control. His focus was on improving production and eliminating future failures by systematically collecting failure records and investigating and correcting root causes.

Deming's philosophy known as Dr. Deming's "Management Theory" and later "systems of profound knowledge" represent a holistic approach to leadership and management. philosophy brings together an understanding of variation, epistemology, psychology, and appreciation of the system.

Learn more about  Deming here brainly.com/question/26326939

#SPJ4

5 0
2 years ago
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