Madison is starting her own sewing business. Madison thinks she will do a better job than her competitors, so she thinks she can
1 answer:
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This problem is mainly concerned with setting up an equation.
let's add the interest rates times their respective investment amounts:
simplify:
sum of interest:
1780 = (9000+x) 0.10 + x 0.06 + (11000-2x)0.08
solution:
He does not have any invested in the 6%, while he has 9000 invested at 10% and 11,000 invested at 8%
to check:
So this ended up being a trick problem because he does not actually have any invested in the 6% option.
let's add the interest rates times their respective investment amounts:
simplify:
sum of interest:
1780 = (9000+x) 0.10 + x 0.06 + (11000-2x)0.08
solution:
He does not have any invested in the 6%, while he has 9000 invested at 10% and 11,000 invested at 8%
to check:
So this ended up being a trick problem because he does not actually have any invested in the 6% option.