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
iris [78.8K]
3 years ago
8

A person invested $20,000 into two accounts that pays 2.5% and 3% simple interest annually, respectively. find the amount invest

ed into the two accounts if the total interest earned after one year is $540
Business
2 answers:
denpristay [2]3 years ago
8 0
Let:
x = amount in the account invested in 2.5%
20000 - x = amount in the account invested in 3%

Solution:
.025x + .03 (20000 - x) = 540
.025x + 600 - .03x = 540
-.005x + 600 = 540
-.005x = 540 - 600
-.005x = -60
x = 12000

Therefore, that person invests 12,000 at 2.5%
and
20,000 - 12,000 = 8,000 at 3%
marusya05 [52]3 years ago
6 0

<u>Answer:</u> The amount invested in first account is $12,000 and in second account is $8000

<u>Explanation:</u>

We are given:

Total amount invested = $20,000

Total interest earned = $540

Let the amount invested in account 1 having 2.5 % ROI be 'x'

So, the amount invested in account 2 having 3 % ROI will be (20,000-x)

To calculate the simple interest, we use the equation:

A=\frac{PRT}{100}

For account 1:                             For account 2:

P = x                                            P = 20,000 - x

R = 2.5 %                                     R = 3 %

T = 1                                             T = 1

Putting values in above equation, we get:

\frac{x\times 2.5\times 1}{100}+\frac{(20000-x)\times 3\times 1}{100}=540\\\\0.025x+600-0.03x=540\\\\x=12000

Amount invested in account 1 having 2.5 % ROI = x = $12000

Amount invested in account 2 having 3 % ROI = (20,000 - x) = (20,000 - 12,000) = $8000

Hence, the amount invested in first account is $12,000 and in second account is $8000

You might be interested in
When multinational enterprises enter host countries such as Saudi Arabia and Japan, the most logical option is usually to pursue
goldfiish [28.3K]

Answer:

True

Explanation:

When multinational enterprises enter the host countries they usually prefer pursuing multidomestic strategy  even though such a strategy rarely leads to reduced costs then too the multinational enterprises opts for such a strategy.

A multidomestic strategy is one in which the multinational companies adopts marketing approach rather than a universal or global approach. under such a strategy the multinationals studies deep about the individual market as well as the customers and prefers catering to the needs of the customers. Even though such a strategy leads to higher costs or may be no reduced costs as it has to appoint experts for the deep market and customer choice study .

4 0
2 years ago
Information regarding the defined benefit pension plan included the following for 2018 ($ in millions): Plan assets, January 1 $
denis-greek [22]

Answer:

$10 million

Explanation:

We know that

Actual return can be found at using the formula:

Beginning balance ($70) + actual return (?) + contributions ($42) - retiree benefits paid ($17) = ending balance ($105) [in millions]

from the above formula  after putting values can get the value of actual return as $10 million.

8 0
3 years ago
Suppose Baa-rated bonds currently yield 6%, while Aa-rated bonds yield 4%. Now suppose that due to an increase in the expected i
Leviafan [203]

Answer:

Initial confidence index 66.67%

New confidence index 71.4%

Explanation:

Calculation of what would happen to the

confidence index

Using this formula

Confidence index=(Average yield for high grate bonds)/(Average yield for intermediate graded bonds)

Let plug in the formula

Initial confidence index=4%/6%

=0.6667 ×100

=66.67%

Due to increase in the yields the New Confidence Index will be;

New confidence index

=(4%+1%)/(6%+1%)

=5%/7%=0.7142857 or 0.714

0.714×100=71.4%

Hence, the New Confidence index tend to indicates slightly higher confidence and the reason for the increase in the index is the expectation of higher inflation.

6 0
3 years ago
Beginning work in process was $125,000. Manufacturing costs added to production for the month were $835,000. There were $200,000
Nataly_w [17]

Answer:

c. $ 760,000

Explanation:

For computing the cost of goods manufactured, we have to use the formula which is shown below:

Cost of goods manufactured= Beginning work in process + manufacturing cost - ending work in process

= $125,000 + $835,000 - $200,000

= $760,000

Beginning work in process + manufacturing cost is called total work in process for a given period

7 0
3 years ago
PLEASE HELP ME????
Rainbow [258]
The answer is D <3 hope dis helps :-)
8 0
3 years ago
Read 2 more answers
Other questions:
  • NEED HELP ASAP!!!!!! 8 POINTS!!!!Explain five guidelines to follow when shopping from home.
    8·2 answers
  • You are working at a firm that specializes in fraud examinations on behalf of clients. think of a specific example when your fir
    9·2 answers
  • _______________is concerned with what is​, and ▼ positive analysis neutral analysis normative analysis is concerned with what ou
    5·1 answer
  • A successful TQM program incorporates all of the following except __________. ANSWER Unselected benchmarking Unselected centrali
    8·1 answer
  • At year-end (December 31), Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975,000. Chan records its
    6·1 answer
  • A concern voiced by critics of globalization is that today's increasingly interdependent global economy shifts economic power to
    9·1 answer
  • The _____ indicates whether a firm earned a profit or suffered a loss over the past accounting period. Answer
    10·1 answer
  • Bank deposits that can be withdrawn on demand in various ways, including with a check or debit card, are called:
    8·1 answer
  • The financial statements for Castile Products, Inc., are given below:
    8·1 answer
  • Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in most of the United States. Customers order
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!