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
VashaNatasha [74]
2 years ago
15

You inherit $10,000 with the stipulation that for the first year the money must be invested in two stocks paying 6% and 11% annu

al interest, respectively. How much should be invested at each rate if the total interest earned for the year is to be $900
Business
1 answer:
drek231 [11]2 years ago
8 0

Answer:

5000 at 6%

6000 at 11%

Explanation:

Given that :

Total principal = 10000

Let :

Principal invested in business A = x

Principal invested in business B = y

Interest = Principal * rate * time

(x * 6% * 1) + (y * 11% * 1) = 900

0.06x + 0.11y = 900 - - - - (1)

x + y = 10000 - - - (2)

From (2)

x = 10000 - y

Put x = 10000 - y in (1)

0.06(10000 - y) + 0.11y = 900

600 - 0.06y + 0.11y = 900

600 + 0.05y = 900

0.05y = 900 - 600

0.05y = 300

y = 300 / 0.05

y = 6000

x = 10000 - y

x = 10000 - 6000

x = 5000

You might be interested in
In its first month of operation, Tamarisk, Inc. purchased 230 units of inventory for $8, then 330 units for $9, and finally 270
aivan3 [116]

Answer:

Phantom profit= $500

Explanation:

Giving the following information:

Purchased: 230 units for $8

Purchased: 330 units for $9

Purchased: 270 units for $10.

At the end of the month, 310 units remained.

The method with the highest ending inventory will result in the lowest cost of goods sold.

First, we need to calculate the ending inventory under FIFO method.

FIFO (first-in, first-out):

Ending inventory= 270*10 + 40*9= $3,060

Now, we calculate the ending inventory under the LIFO method and compare it with FIFO.

LIFO (last-in, first-out)

Ending inventory= 230*8  + 80*9= $2,560

Phantom profit= 3,060 - 2,560= $500

8 0
3 years ago
Ms. Claggett is sixty-six (66) years old. She has been covered under Original Medicare for the last six years due to her disabil
umka2103 [35]

What should you tell her about how the Part D Initial Enrollment Period applies to her situation is: Part D occurs 3 months prior and 3 months after the month a beneficiary meets the requirements for Part B.

<h3>What is Part D plan?</h3>

Part D plan can be defined as a Medicare plan that help to cover drugs prescription of  those under the plan

Based on the scenario you should tell her that  Part D Initial Enrollment Period start  3 months prior and 3 months after the month when a beneficiary  of the plan meets the eligibility or necessary requirements for Part B plan.

Hence,  she cannot be able to use it as a form of  justification for enrolling in a Part D plan now.

Learn more about Part D plan here:brainly.com/question/24324023

#SPJ1

3 0
2 years ago
otato Company began the period with an accounts receivable balance of $2,693 and a balance in the allowance for doubtful account
Sphinxa [80]

Answer:

Potato Company

Balance in Allowance for Doubtful Accounts is $575 (Credit).

Explanation:

We can use a T-account for the Allowance for Doubtful Accounts to determine the balance:

                                      Allowance for Doubtful Accounts

a. Accounts Receivable         $668     Beginning Balance   $494

 Ending Balance                     <u>$575</u>  b. Bad Debt Expense  <u>$749</u>

                                              <u>$1,243</u>                                    <u>$1,243</u>

                                                                Ending Balance     $575

The allowance for doubtful accounts is a contra account to the Accounts Receivable account.  Its purpose to provide some estimation of the uncollectibles as a way of managing the credit risk involved in trade sales.

7 0
3 years ago
Rue's hunting emporium sells hunting equipment. the store advertises its equipment in a popular magazine every monday. it also p
Alla [95]
<span>The scenario in which the store advertises its equipment in a popular magazine every Monday and on a television commercial every Thursday at 5:00 p.m. for a period of three months is an example of </span>continuous media schedule. It is type of advertising that includes advertising of <span>the products throughout a planned period of time.

</span>
7 0
3 years ago
An ______ in the interest rate (r), ceteris paribus, will cause planned investment to ______.
faltersainse [42]

Answer:

An increase in the interest rate (r), ceteris paribus, will cause planned investment to decrease.

Explanation:

An increase in the interest rates determined by the Federal Reserve would imply that the American financial system would pay larger sums of money for direct investments in banks or bonds, which would stop capital investment outside the public financial system, that is, in stocks. private, real estate investments, etc., since money would be invested at a higher profit in safer sectors of the market.

7 0
3 years ago
Other questions:
  • A ________ is a time deposit that the depositor agrees to keep in a bank for a specified time.
    5·1 answer
  • 5 Examples of fiscal policy
    8·1 answer
  • A small change in the rate of productivity growth will have a large impact on output in the short run but a small impact in the
    9·1 answer
  • Professional auditing standards identify the principal "management assertions" that underlie a set of financial statements. The
    8·1 answer
  • Crowder Company acquired a tract of land containing an extractable natural resource. Coronado is required by its purchase contra
    5·1 answer
  • Because services are inseparable, they cannot be tried before they are purchased. To counteract this, a service firm might:
    14·1 answer
  • Romano Corporation has three operating divisions and requires a 12% return on all investments. Selected information is presented
    7·1 answer
  • List four differences between market price and seasonal product​
    12·1 answer
  • What pricing strategies do McDonalds use.
    12·2 answers
  • True or false: enterprise operations systems work in conjunction with the firm's erp system to provide specific functionality to
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!