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
Mrac [35]
3 years ago
12

Nico is saving money for his college education. He invests some money at 99​%, and ​$17001700 less than that amount at 4 %.4%. T

he investments produced a total of ​$257 interest in 1 yr. How much did he invest at each​ rate?
Business
1 answer:
Rufina [12.5K]3 years ago
5 0

Answer:

Nico invest $2500 at 9% interest rate and $800 at 4% interest rate.

Explanation:

He invests some money at 9​%, and ​$1700 less than that amount at 4 %.

Let Nico invest $x at 9%.

It means he invest $( x-1700) at 4%.

The investments produced a total of ​$257 interest in 1 yr.

x\times \frac{9}{100}+(x-1700)\times \frac{4}{100}=257

0.09x+(x-1700)0.04=257

0.09x+0.04x-68=257

0.13x-68=257

Add 68 on both sides.

0.13x=257+68

0.13x=325

Divide both sides by 0.13.

x=2500

Nico invest $2500 at 9% interest rate.

x-1700=2500-1700=800

Nico invest $800 at 4% interest rate.

Therefore Nico invest $2500 at 9% interest rate and $800 at 4% interest rate.

You might be interested in
Which of the following bases of power emphasizes threatening or actual punishment?
gizmo_the_mogwai [7]
<h2>Hello!</h2>

The answer is C. Coercive.

<h2>Why?</h2>

According to the bases of power, coercive power means that someone can punish someone who deserves it when it's needed, punishment can be just punishment but it can also mean serious actions as demoting, restricting privileges or in the last instance, firing people.

Coercive power can be a problem if it's applied to everyone, every time, the result of coercive actions applied in an inappropriate way could result in useful people resignations. That's why coercive tools are the last resort if corrections are needed.

Have a nice day!

6 0
3 years ago
Read 2 more answers
If you cause a car accident, which type of insurance will require you to pay the least out of pocket
WARRIOR [948]
A low deductible plan is the type of insurance that will require the driver to pay less out of pocket. If a person has a high deductible plan, the out of pocket payment would be a lot higher. A low deductible plan has much higher premiums that must be paid. The high deductible insurance has much lower premiums. After a wreck that is caused by the driver, most insurances will raise the premiums paid. Unless you with an insurance company that accident forgiveness plans. The correct answer to this question is B. Low Deductible Plan. 
3 0
3 years ago
Read 2 more answers
"Value added" is defined as: a. the price of the product multiplied by the quantity produced. b. total sales revenue divided by
FromTheMoon [43]

Answer:

d. the value of total product minus raw materials costs.

Explanation:

The price of the product multiplied by the quantity produced is the revenue.

Total sales revenue divided by the quantity produced gives the price of the product.

I hope my answer helps you

6 0
3 years ago
Select all of the tools you could use to track your expenses.
scoundrel [369]
Automatic bill payment,,Budget software.....hope that helps!(:
3 0
3 years ago
Read 2 more answers
Quy định về thủ tục hải quan hàng tiêu dùng?
Rudik [331]
I don’t speak Italian
7 0
3 years ago
Other questions:
  • How can you differentiate between various economic systems that exist
    10·1 answer
  • ​finn and glenda want to form and do business as hobby crafts corporation. a corporation is
    10·1 answer
  • Stuck on this one is financial literacy please help
    7·1 answer
  • Determine the amount to post to the Cash T-account. Event Debit/Credit Purchase equipment by signing a note with the bank for $2
    5·1 answer
  • The lender usually has the right to collect the principal, but is NOT allowed to collect the interest if the loan is:
    8·1 answer
  • Cullumber Industries incurs unit costs of $8 ($5 variable and $3 fixed) in making an assembly part for its finished product. A s
    9·1 answer
  • Globalization is:
    11·1 answer
  • A software firm has an opening for a software programmer. Jason, the HR manager, is making a list of all the tasks, duties, and
    6·1 answer
  • On 20/07/2019, "ABC" Company sold goods to customer "X" with a total value of $120.000 The customer pad
    11·1 answer
  • The u. S. Dollar appreciated relative to other major trading currencies between 2014 and early 2016 primarily because.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!