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
Nezavi [6.7K]
3 years ago
8

$16,281$⁢16,281 is invested, part at 15%15% and the rest at 13%13%. If the interest earned from the amount invested at 15%15% ex

ceeds the interest earned from the amount invested at 13%13% by $1995.27$⁢1995.27, how much is invested at each rate? (Round to two decimal places if necessary.)
Business
1 answer:
aleksandr82 [10.1K]3 years ago
5 0

Answer:

Ans. The amount invested at 13% was $1,595.97 and $14,685.03 were invested at 15%

Explanation:

Hi, you can solve this by using 2 equations, so let X be the portion of the money invested at 15% and Y be the amount invested at 13%. So the equation for the whole amount is:

X+Y=16,281

Now, the problem says that the money that you earn by investing at 15% exceeds the money received as interest in your investment of 13% by $1,995.27, this leads us to the second equation.

0.15X=0.13Y+1995.27

Now, to make it a little more friendly, we just have to go ahead and divide everything by 0.15, so we get.

X=0.8667Y+13,301.8

Now, in our first equation, we substitute X fo 0.8867(Y)+13,301.8 and we will see this.

0.8667Y+13,301.8+Y=16,281

Now, we solve for Y

1.8667Y=16,281-13,301.8

Y=\frac{2,979.2}{1.8667} =1,595.97

So the money invested at 13% was $1,595.97 therefore, the money invested at 15% was $16,281 - $1,595.97 = $14,685.03

And we can check this results like this. The money invested at 15% will return an amount of:

14,685.03*0.15=2,202.75

And the money invested at 13% will return

1,595.97*0.13=207.48

Substracting, we would found that the difference is:

2,202.75-207.48=1,995.27

Best of luck.

You might be interested in
Which actions can you take to bring back your computer from sleep mode?
Igoryamba
Move the Mouse around and Press any key on the keyboard. Well I’m just referring to that because that’s how my computer works
4 0
2 years ago
Read 2 more answers
Which of the above diagrams illustrates the effect of an increase in automobile worker wages on the market for automobiles?
ziro4ka [17]
Considering the diagrams (file:///C:/Users/Administrator/Desktop/image...1.webp).
The answer is D only.
The diagram shows a shift in the supply curve. Changes in production cost and related factors can cause an entire supply curve to shift right or left. This in turn causes a higher or lower quantity to be supplied at a given price. Additionally, if the cost of resources used to produce  a good increases, sellers  or suppliers will be less inclined to supply the same quantity at a given price, and the supply curve will shift to the left. Those factors that increase production efficiency such as technology advances, shifts the  supply curve to the right.
7 0
3 years ago
The preferred method for situations involving strategic decision making, projects with a high degree of
Nataly_w [17]
I Found the answer on internet.

The preferred method for situations involving strategic decision making, projects with a high degree of UNCERTAINTY AND PROJECTS WITH AN UNSTOPPABLE SCOPE IS THE TOP-DOWN APPROACH. TOP DOWN APPROACH IS USED TO ESTIMATE PROJECT TIME AND COSTS.
5 0
3 years ago
What does non current assets mean
coldgirl [10]

Answer:

  assets whose value is not realized in the current year

Explanation:

A <em>noncurrent asset</em> is generally a long-term investment whose value will not be fully realized in the current accounting year. The cost of the asset is allocated over the period the asset is in use, rather than being expensed in the year it is acquired.

6 0
2 years ago
Profit is not the objective of business but it is the result of business​
yarga [219]
That is true. Good job
4 0
3 years ago
Other questions:
  • Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of go
    7·1 answer
  • Which of the following transactions would cause a decrease in both assets and stockholders' equity? A) Paying advertising for th
    8·1 answer
  • Does inflation benefit the lender or borrower?
    14·1 answer
  • Compared with lowest-cost strategies, successful attainment of differentiation strategies depends on ________.
    14·1 answer
  • In an oligopoly situation, a wise marketing manager will probably set the firm's price level:
    12·1 answer
  • give at least 3 personal gains in your business (my gain,community gain and country gain) by considering the table below
    10·1 answer
  • How much of a song can I use in a project ?
    12·1 answer
  • Lãi suất được trả bởi vì
    11·1 answer
  • One of the goals of Reaganomics was to encourage private investment through tax cuts for businesses and the wealthy encourage pr
    12·2 answers
  • A utility company constructed a building costing approximately $2 million that encroached on a rancher's property. The rancher i
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!