Answer:
Step-by-step explanation:
From the given information:
Let assume that the invested amount in the investment paying 8% interest is a
Now, since the total amount invested = $3000.
Then, the amount invested in the investment that will be paying 10% interest can be represented as:
= $(3000-a)
Income earned on $a that is being invested in 8% interest = $a × 8/100 = $0.08a
Income earned from $(3000-a) in the 10% investment is:
= $(3000-a)× 10/100
= $(300 - 0.1a)
Since total income of the two investment = $290;
Then;
0.08a + (300 - 0.1a) = 290
0.08a + 300 - 0.1a = 20-
300 - 0.02a = 290
-0.02a = -10
a = -10/-0.02
x = 500
Thus;
the amount invested in an investment paying 8% interest = $500
the amount invested in an investment paying 10% interest = $(3000 - 500) = $2500
Search the property of addition
Answer:
A
Step-by-step explanation:
The answer is A because all of the other options are favorable circumstances to refinance. There's no need to refinance if the loan in question (a mortgage in this case) has already been paid off.