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PolarNik [594]
2 years ago
11

A bank loaned out $28,500, part of it at the rate of 14% annual interest, and the rest at 4% annual

Mathematics
1 answer:
Flauer [41]2 years ago
5 0

Answer:

$15,000 was invested at 14% per year, and $13,500 was invested at 4% per year.

Step-by-step explanation:

Given that a bank loaned out $ 28,500, part of it at the rate of 14% annual interest, and the rest at 4% annual interest, and the total interest earned for both loans was $ 2,640.00, to determine how much was loaned at each rate you must perform the following calculations:

28,500 x 0.14 + 0 x 0.04 = 3,990

20,000 x 0.14 + 8,500 x 0.04 = 3,140

15,000 x 0.14 + 13,500 x 0.04 = 2,640

Therefore, $ 15,000 was invested at 14% per year, and $ 13,500 was invested at 4% per year.

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andrew-mc [135]
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Case n - 2 = 1
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Case n - 2 = -1
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Case 4n - 7 = 1
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3 years ago
Can anyone help me answer this?
netineya [11]
We need to know how much tax she must pay based on her taxable income ,
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Per month = $23,220 / 12 = $1,935

Hope you found this helpful , good luck !
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