A man has $34,000 to invest. He invests some of the money at 5% and the balance at 4%. His total annual interest income is $1545
1 answer:
Answer:
Amount invested @ 5% = $18,500
Amount invested @ 4% = $34,000 - $18,500 = $15,500
Explanation:
Provided we have the following details,
Total investment = $34,000
Let amount invested @ 5% = x
Then, amount invested at 4% = $34,000 - x
Thus,
0.05x + $1,360 - 0.04x = $1,545
0.01x = $1,545 - $1,360 = $185
x = $185/0.01 = $18,500
Thus, amount invested @ 5% = $18,500
Amount invested @ 4% = $34,000 - $18,500 = $15,500
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Answer:
$37,760
Explanation:
The income for the current operation, without further processing, is given by:
If the product is further processed at a cost of $11,200, the company would sell 11,200 units at $31,80 each and 5,200 at $19.20 each, for an income of:
Therefore, the incremental net income of processing further would be:
The incremental net income would be $37,760.