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
Ierofanga [76]
3 years ago
13

Linda won $200,000 in a state lottery. She first paid income tax on 30% on the winnings. She invested some of the rest at 1.5% a

nd some at 4%, earning $4350 interest per year. How much did she invest at each rate?
Mathematics
1 answer:
Lady_Fox [76]3 years ago
5 0

She invested $ 50000 at 1.5% rate and $ 90000 at 4% rate.

<u><em>Explanation</em></u>

Total amount of winnings = $ 200000

She first paid income tax on 30% on the winnings. So, the amount paid as income tax =(200000*0.30)dollar=60000 dollar.

<u>Remaining amount</u> = $ 200000 - $ 60000 = $ 140000

Suppose, she invested  x dollar at 1.5% rate.

That means, she invested (140000-x) dollar at 4% rate.

Given that, the total amount of interest earned = $ 4350

So, the equation will be.....

0.015x+0.04(140000-x)=4350\\ \\ 0.015x+5600-0.04x=4350\\ \\ -0.025x= 4350-5600\\ \\ -0.025x=-1250\\ \\ x= \frac{-1250}{-0.025}=50000

So, amount of investment at 1.5% rate = $ 50000

and amount of investment at 4% rate = $ 140000 - $ 50000 = $ 90000  


You might be interested in
Tonya drinks the recommended 8 cups of
Margarita [4]

Answer:

Step-by-step explanation:

6 0
3 years ago
WILL MARK BRAINLIEST PLS HELP
inysia [295]
A it’ll take 3 cans to cover 60 aquare feet
7 0
3 years ago
Need help will give brainiest
e-lub [12.9K]

Answer:

3. x=50, y=80, 4. x=6.5, y=5

Step-by-step explanation:

I think, not entirely sure.

8 0
3 years ago
A cylinder has a height of 16 cm and a radius of 5 cm. A cone has a height of 12 cm and a radius of 4 cm. If the cone is placed
Vanyuwa [196]
V = Vcyl - Vcone
V = base×height - 1/3base×height
V = (pi×5^2)(16) - 1/3(pi×4^2)(12)
V = 1256 - 200.96
V = 1055.04 cubic cm.
7 0
3 years ago
John has 5 apples. Cina has 5 times as john. how many apples does Cina have
Leokris [45]
5X5=25 apples is the answer
6 0
3 years ago
Read 2 more answers
Other questions:
  • If the sum of the measures of the interior angles of a convex polygon is 2160°, how many sides does the polygon have?
    14·1 answer
  • Use the work shown below to find the simplified product
    8·2 answers
  • A number, n, is multiplied by negative 5/8. The product is negative 0.4. What is the value of n?
    13·2 answers
  • A research company surveys 8,000 people. The company expects 6,000 people to respond favorably. If there is a percent error of 2
    9·1 answer
  • If anybody can help me with any of these problems on this paper please do so
    8·1 answer
  • Write 843 in scientific notation.​
    15·1 answer
  • 8.1 divided into 81 problem
    11·1 answer
  • How to graph the following line on the grid y= -3/4x + 4
    14·2 answers
  • Which statement is correct about the product of ​323​ and ​109​?
    13·1 answer
  • Hellllllllllppppppppppp​
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!