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r-ruslan [8.4K]
3 years ago
6

Brian invests £4000 into his bank account.

Mathematics
1 answer:
GuDViN [60]3 years ago
7 0

Answer:

10.24 years

Step-by-step explanation:

The computation of the time period is as follows:

As we know that

Amount = Principal × (1 + rate of interest)^time period

£8000 = £4000 × (1 + 0.07)^time period

£8,000 ÷ £4,000 = 1.07^time period

2 = 1.07^time period

Now apply the log to the both sides

log 2 ÷ log 1.07 = time period

= 10.24 years

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The amount invested at 5% is $12,000 whereas the remaining $15,000 was invested at 4%

What is the amount of annual return for each investment?

The amount of annual return for each investment is determined as the amount invested multiplied by the rate of return

Let us assume that y was invested at 5% and the 27000-y, the remainder was invested at 4%

Total annual return=(y*5%)+(27000-y)*4%

Total annual return=0.05y+1080-0.04y

total annual return=0.01y+1080

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y=120/0.01

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amount invested at 4%=$15,000

Find out more about investment on: brainly.com/question/14214349

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6 0
1 year ago
Check answer plz. will mark brainlyist
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