The sum of 3 and x is less than 7.
2 answers:
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Answer:
- The amount invested at 5%=$77,000
- The amount invested at 9%=$349,000
Step-by-step explanation:
- Let the amount invested at 5% simple interest =$x
He invested $41,000 more than 4 times the amount at 9%.
- This amount is: $(4x+41000)
Total Annual Interest Earned = $35,260
Therefore, Time=1 year
Simple Interest
Therefore, his total interest
=Interest from Investment 1 + Interest from Investment 2
Therefore:
The amount invested at 5%=$77,000
The amount invested at 9%=$(4*77,000+41000)=$349,000
Answer:
A
Step-by-step explanation:
Hihi. So, this is a nice application of interest rates as well as properties of exponentials/logarithms. As you know, the basic equation for interest rates is A= Pe^(rt) where A is your final amount, P is your initial, r is your rate of interest, and t is the time the money was accumulating interest. After cleaning up, you get in a situation due to you having e still lying around. Luckily, if you take the natural log of e, all you have left behind is the previous exponent. Thus, you can take the natural log of both sides, divide by 4, and then simplify to see that your final interest rate is ~6%
