Ryan was 8 when his parents invested $4000 in a certificate of deposit that pays 6%. If Ryan leaves the account alone until the investment doubles, how old will he be? (Assume that the interest is not compounded.)
<span>This one has a twist to it in that it tells you that the interest is not compounded. </span>
<span>They need to earn $8,000 - $4,000 = $4,000 in interest. </span>
<span>They earn $4,000 X 6% = $240 in interest per year. </span>
<span>$4,000 / $240 = 16.67 </span>
<span>16.67 + 8 = 24.67 </span>
<span>Ryan will be 24 and 8 months old when the investment doubles. </span>
<span>2.)Benjamin has $6000 invested in two accounts. One earns 8% interest per year, and the other pays 7.5% interest per year. If his total interest for the year is $472.50, how much is invested at 8%? </span>
<span>X = the amount invested at 8% </span>
<span>($6,000 - X) = the amount invested at 7.5% </span>
<span>So: </span>
<span>.08X + .075(6,000 - X) = $472.50 </span>
<span>Now solve: </span>
<span>.08X + 450 -.075X = $472.50, this reduces to </span>
<span>.005X = $22.50, which finally reduces to </span>
<span>X = $4,500 </span>
<span>So $6,000 - X = $1,500 </span>
<span>So the answer is: $4,500 is invested at 8% </span>
<span>Test the result </span>
<span>$4,500 X 8% = $360.00 </span>
<span>$1,500 X 7.5% = $112.50 </span>
<span>$360.00 + $112.50 = $472.50, and you've proved your answer</span>
Answer:
4 is the answer
Step-by-step explanation:i dont have an explanation but i had this sa e paper before trust me
B. Never
The event has to happen in order to be complemented. Not every event is complemented, but the event itself can only and always be an event.