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emmasim [6.3K]
3 years ago
6

A $5000 principal is invested in two accounts, one earning 1% interest and the another earning 6% interest. If the total interes

t for the year is $170, then how much is invested in each account?
Mathematics
1 answer:
algol [13]3 years ago
4 0

Answer: in the 1% account we have $2600 and in the 6% account we have $2400.

Step-by-step explanation:

We have two amounts A and B such that:

Where A is the amount invested in the 1% earning interest account and B is the amount invested in the 6% earning interest account.

A + B = $5000,

If the interest is yearly, then we have that, after one year, the interest is:

A*(1%/100%) + B*(6%/100%) = $170

A*0.01 + B*0.06 = $170

So we have two equations:

A + B = $5000

A*0.01 + B*0.06 = $170

In the first equation we can isolate A and get:

A = $5000 - B

and replace it in the other equation:

($5000 - B)*0.01 + B*0.06 = $170

$50 + B*0.05 = $170

B*0.05 = $120

B = $120/0.05 = $2400

Then A = $5000 - $2400 = $2600.

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Answer:

d. backward sloping.

Step-by-step explanation:

The roommate receives a pay raise at her part-time job from $9 to $11 per hour and now decides to work 20 hours per week instead to 25 hours per week.

We can see that her rate is decreasing, so her labor supply curve is backward sloping or also called backward bending.

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6 0
3 years ago
Suppose a die is tossed 5 times. what is the probability of getting exactly 2 fours?
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Answer:

the probability of getting exactly 2 fours is 0.16

Step-by-step explanation:

The probability of obtaining a number that is four = ¹/₆

The probability of obtaining a non 4 number = 1 - ¹/₆ = ⁵/₆

The number of ways 2 fours can be arrange in five numbers = ⁵C₂ = 10 ways

If the die is tossed five times, the probability of the events is calculated as;

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P = 10 x (¹/₃₆) x  (¹²⁵/₂₁₆)

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8 0
3 years ago
Orlando invested $16,000 in an eight-year CD bearing 6.5% simple annual interest, but needed to withdraw $3,500 after five years
baherus [9]

Answer:

Therefore, the correct option is OPTION C.

Step-by-step explanation:

If Orlando had not made his early withdrawal, the amount of money he would have earned is:

F = 0.065($16,000)(8) = $8.320

Given that he withdraw $3500, he now earns:

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F1 = $5200 + $2437.5 = $7637.5

And now we have to take into acount the year of penalty, which is one year’s worth of interest on the amount withdrawn.

Penalty= $3500(0.065)(1) = $227.5

So the total money he earns now is: $7637.5 - $227.5 = $7410

Then, the amunt of money he could have earn but he didn't is:

Money = $8.320 - $7410 = $910

Therefore, the correct option is OPTION C.

6 0
3 years ago
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Answer:

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8 0
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