Kerry earned a total of $900 last year on his investments. If $7000 was invested at a certain rate of return and $9000 was invested in a fund with a rate that was 2% higher, find the two rates of interest.

Kerry earned a total of $900 last year on his investments. If $7000 was invested at a certain rate of return and $9000 was invested in a fund with a rate that was 2% higher, find the two rates of interest.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 64SE: A car was valued at 38,000 in the year 2007. By 2013, the value had depreciated to 11,000 If the...

See similar textbooks

Related questions

Q: One safe investment pays 10% per year, and a more risky investment pays 18% per year. A woman who…

A: Given : A woman who has $145,800 to invest would like to have an income of $20,020 per year from her…

Q: Jason earned $256 interest last year on his investments. If $1600 was invested at a certain rate of…

Q: Last month Albert earned half of what Betty earned, while Betty earned $5000 more than what Calvin…

Q: one safe investment pays 10% per year, and a riskier investment pays 18% per year. A woman who has…

A: Let x be the amount invested on safer investment pays 10% per year and y be the amount invested on…

Q: A tutor at ABC learning center receives a monthly base pay of P8,000 corresponding to a P5,000…

A: Solution :-

Q: On a recent trip to the convenience store, you picked up 2 gallons of milk, 5 bottles of water, and…

Q: heldon, Leonard, Howard and Raj are each paid different salaries from the university with Sheldon…

Q: Four investors bought a real estate asset together and decided to divide the profits equally.…

Q: Millicent earned $435 last year in interest. If $3000 was invested at a certain rate of return and…

A: Let the interest rate of $3000 is = x% So interest rate of $4500 is =(x-2)% Total interest earned=…

Q: Kerry earned a total of $900 last year on his investments. If $7000 wasinvested at a certain rate of…

A: It is given that, Kerry earned a total of $900 last year on his investments. Let x be the rate of…

Q: Ms. Smith invested $11,000 in two accounts, one yielding 6% interest and the other yielding 9%. If…

A: Answer is below

Q: Samantha earned $1480 in interest last year on her investments. If $5000 was invested at a certain…

A: Let the rate of $5000 is x% So the rate of $11000 is (2x/3)% So the total interest earned=

Q: If the price of sneakers increases 6% per year, about how long will it take for the price to double?

A: Given , The price of sneakers increases 6% per year , We have to find the years that take for the…

Q: Pedro and Juan agreed to pool their resources and bought 12 slightly damaged computer units worth…

A: 12 slightly damaged computer units worth 165000 pesos. Pedro paid 105000 no pesos and Juan paid…

Q: Hui, Garrett, and Daniel decided to start a web design company and made investments in the ratio of…

Q: Two brothers, Steven and Kevin, each inherit $19000. Steven invests his inheritance in a savings…

Q: A local charity is pre-selling passes for 4 people to play in an upcoming golf tournament. The…

A: A local charity is pre-selling passes for 4 people to play in an upcoming golf tournament. The…

Q: Larry Mitchell invested part of his $35,000 advance at 5% annual simple interest and the rest at 3%…

Q: Larry Mitchell invested part of his $29,000 advance at 2% annual simple interest and the rest at 6%…

A: Given: Total amount invested is, P=$29,000. First rate of interest, r1=2%. Second rate of interest,…

Q: One safe investment pays 2% per year, and a more risky investment pays 14% per year. A woman who has…

A: Given,Total investment = $144000Income required per year = $10560

Q: One safe investment pays 10% per year, and a more risky investment pays 18% per year. A woman who…

Q: whereas his partner Kris invested $30,000. How much more (in dollars) needs to be invested in order…

A: In this question we will use basic of algebra i.e concept of profit. Solution of the above question…

Q: If Langston makes $22 dollars a week but always puts half into savings for college, after how many…

A: if guitar cost $200 and plus 7% sales tax then total cost of guitar =200+200*0.07=214

Q: A seamstress purchases 30 rolls of white fabric and 25 rolls of color fabric. If the cost of each…

A: We have to find what percent of the total cost of fabric is the price of one roll of white fabric.

Q: Yesenia invests $24,000 into two funds – one paying a 3% annual interest rate and the other paying a…

A: Given, Principle(P)= $24000 r1= 3% r2= 7% r1=t2= 1year Total interest= $1000

Q: If the loss percent for grapefruit is 47%, the yield percent would be 53%.

A: Yes. Statement is true.

Q: Jane and her two friends will rent an apartment for $725 a month, but Jane will pay double what each…

Q: Larry Mitchell invested part of his $12,000 advance at 4% annual simple interest and the rest at 5%…

A: Solution ) suppose first part x which is invested at 4% And.second part will be…

Q: A salesman works for a base salary of $450 a month plus 4% commission on all the merchandise he…

Q: Larry Mitchell invested part of his $22,000 advance at 2% annual simple interest and the rest at 3%…

Q: A woman making $3000 per month has her salary reduced by 20% because of sluggish sales. One year…

A: A woman making $3000 per month has her salary reduced by 20% because of sluggish sales. One year…

Q: Luisa invested $30,000, part at 9% and another part at 5%. If the total profit he receives is $1,950…

Q: Ms. Jones invested $25,000 in two accounts, one yielding 4% interest and the other yielding 8%. If…

Q: Diane just graduated high school and has two job offers. One of the jobs is with Salt Lake City…

Q: A merchant could sell one model of digital cameras at list price and receive $210 for all of them.…

Q: Larry Mitchell invested part of his $17,000 advance at 4% annual simple interest and the rest at 5%…

Q: a woman investes $52,000 in two different mutual funds. one that averages 10% per year and another…

Q: one safe investment pays 10% per year, and a riskier investmnet pays 18% per year,. a women has…

Q: Alice, Bob, and Mary completed a project and were paid $25,000. Before the project started, they…

A: Then Given that Alice should be paid $1,000 less than twice Mary's share, that is Also given that…

Q: Jake has $225,000 to invest. He chooses one money market fund that pays % 6.2 and a mutual fund…

A: Given, Total money =$225,000 Let us consider that the money invested at 6.2% be x, So at 8.2% =…

Q: On an investment of $80,000, James receives $110000 at end of one year. How much would he receive if…

Q: Last year, Jim had twice as many acres as Fred but over the course of the year Jim sold 300 acres…

A: Topic:- Algebra Note:- as per our guideline if more than one question uploaded than only first…

Q: Marrion invested a portion of her $20, 000 award in an savings union that offers an annual simple…

A: Total amount deposited in both the account is $20,000 Let us consider the amount deposited in…

Q: Two years ago, Tom was earning half as much as Annie was earning. Last year, Tom received a $300…

Q: The Mystic Outdoor Shop mixes two types of grass seed into a blend. Each type of grass has been…

Q: The two fratemities Sigma Alpha Mu and Ep Sig plan to raise money jointly to benefit homeless people…

Q: A manager has $4,000 budgeted for raises for four full time and two part time employees. Each full…

Q: Larry Mitchell invested part of his $12,000 advance at 7% annual simple interest and the rest at 2%…

Q: Larry Mitchell invested part of his $29,000 advance at 8% annual simple interest and the rest at…

Question

This is a solving system of linear equations question I solved it already can you create a table solving the problem and using my calculations

Kerry earned a total of $900 last year on his investments. If $7000 was invested at a
certain rate of return and $9000 was invested in a fund with a rate that was 2% higher,
find the two rates of interest.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Matrix Factorization$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.

Similar questions

As the treasurer of her daughter’s Girl Scout troop, Laney collected money for some girls and adults to go to a 3-day camp. Each girl paid $75 and each adult paid $30. The total amount of money collected for camp was $765. If the number of girls is three times the number of adults, how many girls and how many adults paid for camp?
According to the National Automobile Dealers Association, the average cost of a car in 2014 was $28,400. This was $1,600 less than six times the cost in 1975. What was the average cost of a car in 1975?
An animal shelter has a total of 350 animals comprised of cats, dogs, and rabbits. If the number of rabbits is 5 less than one-half the number of cats, and there are 20 more cats than dogs, how many of each animal are at the shelter?
According to the National Automobile Dealers Association, the average cost of a car in 2014 was $28,500. This was $1,500 less than 6 times the cost in 1975. What was the average cost of a car in 1975?
Sara invested 2500, part of it at 4 and the rest at 6 yearly interest. The yearly income on the 6 investment was 60 more than the income on the 4 investment. How much money did she invest at each rate?
Three coworkers work for the same employer. Their jobs are warehouse manager, office manager, and truck driver. The sum of the annual salaries of the warehouse manager and office manager is $82,000. The office manager makes $4,000 more than the truck driver annually. The annual salaries of the warehouse manager and the truck driver total $78,000. What is the annual salary of each of the co-workers?
Last year, at Haven's Pond Car Dealership, for a particular model of BMW, Jeep, and Toyota, one could purchase all three cars for a total of $140,000. This year, due to inflation, the same cars would cost $151,830. The cost of the BMW increased by 8%, the Jeep by 5%, and the Toyota by 12%. If the price of last year's Jeep was $7,000 less than the price of last year's BMW, what was the price of each of the three cars last year?
Lee wants to drive from Phoenix to his brother’s apartment in San Francisco, a distance of 770 miles. If he drives at a steady rate of 70 miles per hour, how many hours will the trip take?
A car was valued at 38,000 in the year 2007. By 2013, the value had depreciated to 11,000 If the car’s valuecontinues to drop by the same percentage, what willit be worth by 2017 ?
Two planes leave Dallas at the same time. One heads east at a speed of 428 miles per hour. The other plane heads west at a speed of 382 miles per hour. How many hours will it take them to be 2,025 miles apart?