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
trapecia [35]
3 years ago
14

Mike invested a total of $25,000, some money in stocks and some money in bonds. The stocks earned 7% simple interest while the b

onds earned 11% simple interest. Mike earned $2010 interest on his investments. How much money did he invest in bonds?
Mathematics
1 answer:
Over [174]3 years ago
5 0

He invested $6500 in bonds

Step-by-step explanation:

The formula of the simple interest is I = Prt, where

  • P is the invested amount
  • r is the rate of interest in decimal
  • t is the time of investment

Assume that Mike invested $x in stocks and $y in bonds

∵ Mike invested $x in stocks

∵ Mike invested $y in bonds

∵ Mike invested a total of $25,000

∴ x + y = 25000 ⇒ (1)

∵ The interest rate of the stocks is 7%

∴ r of the stocks = 7 ÷ 100 = 0.07

∴ I (stocks) = x(0.07)(1)

∴ I (stocks) = 0.07x

∵ The interest rate of the bonds is 11%

∴ r of the bonds = 11 ÷ 100 = 0.11

∴ I (bonds) = y(0.11)(1)

∴ I (bonds) = 0.11y

∵ Mike earned $2010 interest on his investments

- Equate the sum of I (stocks) and I (bonds) by 2010

∴ 0.07x + 0.11y = 2010 ⇒ (2)

Now we have a system of equations to solve it

Multiply equation (1) by -0.11 to eliminate y

∵ -0.11x - 0.11y = -2750 ⇒ (3)

- Add equations (2) and (3)

∴ -0.04x = -740

- Divide both sides by -0.04

∴ x = 18500

- Substitute the value of x in equation (1) to find y

∵ 18500 + y = 25000

- Subtract 18500 from both sides

∴ y = 6500

∵ y represents the amount of money he invested in bonds

∴ He invested $6500 in bonds

He invested $6500 in bonds

Learn more:

You can learn more about the system of equations in brainly.com/question/6075514

#LearnwithBrainly

You might be interested in
Please help! Thank you.
lbvjy [14]

Answer:

Step-by-step explanation:

es la d

3 0
3 years ago
Benny the Barber (see Question 1) is considering the addition of a second chair. Customers would be selected for a haircut on a
Artyom0805 [142]

According to the information presented, Benny should decide not to add a second chair because the average number of clients waiting is 1 (very low), the average waiting time for a client is 10 minutes (very low), and the average time a customer is in the store is 20 minutes (very low).

According to the information, an average of 2 clients arrive at the hairdresser for every hour (60 min) and each cut takes a maximum of 20 minutes. Therefore, the hairdresser would have an average of 40 minutes busy and 20 minutes free for each hour.

Additionally, customers who must wait do not have to spend a long time waiting in the store because the maximum waiting time is 10 minutes (in the case that both customers arrive at the same time).

Below is a graph where the information of both cases is compared (with an additional chair and without an additional chair) and it is inferred that an additional chair is not necessary because the number of clients waiting and the waiting time is not high.

Learn more in: brainly.com/question/25400126

3 0
2 years ago
ITS VERY IMPORTANT PLEASE SOLVE THIS​
kvv77 [185]

Answer:

I'm  \: assuming  \: you \:  meant \:  "group." \:  Draw  \: your \:  3 \:  circles  \: for \:  apples,  \: bananas, \:  and  \: cherries \:  with \:  overlap  \: of  \: all \:  three \:  with  \: each \:  other  \: and  \: make \:  sure \:  there \:  is  \: overlap  \: between  \: each \:  two  \: circles  \: as  \: well.  \:  Note \:  your  \: total = 38 + 42 + 14 = 94 \:  (necessary  \: to \:  calculate  \: the \:  probability) \:  is \:  greater \:  than \:  the  \: 80 \:  people \:  surveyed. \:  Unfortunately,  \: I  \: cannot \:  draw \:  it \:  here \:  for \:  you. \:  There  \: does  \: appear \:  to \:  be \:  a \:  problem \:  with \:  the \:  total \:  number  \: of  \: those \:  who \:  like \:  cherries,  \: as  \: well. \:  It  \: can't \:  be  \: 14  \: with \:  the \:  overlap \:  with  \: other \:  fruit \:  likes, \:  so \:  check \:  the \:  number  \: again. \:   Even  \: if  \: I \:  were  \: to \:  assume \:  the \:  6 \:  that  \: like \:  all  \: 3 \:  fruits \:  included \: , for  \: example, \:  those  \: that \:  like \:  apples \:  and \:  bananas \:  (meaning \:  those \:  that  \: strictly  \: like  \: apples  \: and \:  bananas  \: = 20 - 6 = 14),  \: my  \: total  \: using \:  this  \: approach \:  would  \: be  \: 64,  \: not  \: 80. \: After  \: verifying  \: the  \: question,  \: to \:  find  \: those \:  that \:  simply  \: like \:  one  \: fruit,  \: subtract \:  the  \: numbers \:  that  \: overlap  \: from  \: the  \: total  \: (using  \: your  \: original  \: data,  \: you  \: should  \: get  \: 6  \: people  \: like  \: only  \: apples,  \: and  \: 6 \:  like \:  only  \: bananas).  \: So \:  the  \: probability  \: of  \: those  \: who  \: like  \: either \:  apples \:  or  \: bananas  \: would  \: be  \: 6 + 6 / 94 (or 12 / 94) if  \: the \:  numbers  \: were  \: correct \:  for  \: the  \: cherry \:  fans.

7 0
3 years ago
Plz help I need help plz
dem82 [27]
Answer:

33/4 or 8 1/4

Step-by-step explanation:

-3 2/3 • (-2 1/4)

Step 1. Convert each into improper fractions
(Reply for details)

-11/3 • (-9/4)

Step 2. Multiply
(Reply for details)

99/12

Step 3. Simplify
(Reply for details)

33/4 or 8 1/4
4 0
3 years ago
Which statement is not true about the pattern shown?<br> 2 4 8 16<br> 3: 612' 24'
hram777 [196]
Answer:

Each fraction is greater than the previous fraction.

Explanation:

The bigger the denominator, the smaller the fraction.
8 0
3 years ago
Read 2 more answers
Other questions:
  • Mera painted equal sections of her bedroom wall to make a pattern. She painted 2/5 of the wall white and 1/2 of the wall lavende
    10·2 answers
  • A box of fruit has three times as many nectarines as grapefruit. Together there are 64 pieces of fruit. Write the equation that
    12·1 answer
  • What is the factored form of 3x+24y?
    5·2 answers
  • 5<br> Subtract. Write the expression below in simplest form.<br> (6x-2)-(-x+5)
    14·1 answer
  • Solve the following system in any of the methods you prefer. (graphing, substitution, eliminating)
    11·1 answer
  • B+4=2b-5___________<br>​
    11·1 answer
  • Identify the vertex of the graph of the given function y=2|x+13|-6
    6·2 answers
  • Four glasses of milk and 3 snack bars have a total of 82 carbohydrates (carbs), and 2 glasses of milk and 4 snack bars have a to
    7·1 answer
  • A road, 500 m long, is to be planted with trees at an interval of
    12·2 answers
  • I am confused can somebody help me<br> F ( - 5 ) =
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!