Hello there I need help.
1 answer:
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We shall first of all, convert all the numbers to the same base. This means we either;
Convert the fractions to decimals OR
Convert the decimals to fractions
Let us therefore convert the decimals to fractions.
mark must leave it for 5.5 months or 5 and half moths to gain 5600 in interest .
<u>Step-by-step explanation:</u>
Here we have , mark invests 8000 in an account that pays 12% interest and 2000 in one that pays 8%. if he leaves the money in the accounts for the same length of time, We need to find how long must he leave it to gain 5600 in interest . Let's find out:
Let mark invests 8000 in an account that pays 12% interest and 2000 in one that pays 8% for time x months , So total interest gain is 5600 i.e.
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Therefore , mark must leave it for 5.5 months or 5 and half moths to gain 5600 in interest .