An investment of $5,000 is made at a simple annual interest rate of 3%. How much additional money must be invested at a simple a
1 answer:
Answer: Additional money is $6250.
Step-by-step explanation:
Since we have given that
Amount of investment = $5000
Rate of simple interest = 3%
Let the additional amount of investment be 'x'.
Rate of simple interest = 3.9%
Total annual interest rate on total investment = 3.5%
So, According to question, it would be
Hence, Additional money is $6250.
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Answer:
Total earned(in dollars)
Step-by-step explanation:
Given:
Michael's hourly rate working as a tutor = $12 per hour
Michael's hourly rate working as a waiter = $10 per hour
Total number of hours worked by Michael for both jobs this month = 92
Let the number of hours Michael works as a tutor this month be hours.
∴ Number of hours Michael works as a waiter this month will be hours.
Amount earned by Michael this month from tutor job
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Amount earned by Michael this month from tutor job
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Total amount earned by Michael from both the jobs this month in dollars can be given as
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