In this item, we let x be the amount that is deposited in the account that has a simple interest equal to 7%. With this representation, the amount that is deposited in the account with simple interest of 6% is equal to 12000 - x.
The amount of interest earned from the investment is calculated through the equation,
I = P x (i)
For the first investment,
I = (x)(0.07)
For the second investment,
I = (12000 - x)(0.06)
Adding up the interests,
800 = 0.07x + (0.06)(12000 - x)
The value of x from the equation is 8000.
<em>Therefore, the amount invested to that with 7% interest is $8000 and the amount invested to that with 6% interest is $4,000.</em>
Answer:
Number of Years to Double= 10.62 years
Step-by-step explanation:
<u>First, we need to calculate the real annual interest rate:</u>
Real annual interest rate= {[(i/12)+1]^12} - 1
Real annual interest rate= [{(0.064/12) + 1]^12 - 1}
Real annual interest rate= 0.0659
<u>Now, we need to use the rule of 72. The rule of 72 is a means of estimating the number of years it takes for an investment or your money to double. </u>
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Number of Years to Double= 70/Annual Rate of Return
Number of Years to Double= 70/6.59
Number of Years to Double= 10.62 years
Answer: £54.60
Step-by-step explanation:
7.80 x 7 = £54.60
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Number of revolutions = 4400000/7
= 628571 turns
Answer:
42.4 miles per day
Step-by-step explanation:
212 miles ÷ 5 (days) = 42.4 miles
which means Lena can go at the rate of
42.4 miles per day