Answered: Q12 You invested $9,000 in to a mutual…

Q12 You invested $9,000 in to a mutual fund with a management fee of 0.85% of the total asset value. How much money do you pay as a management fee?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.3: Solve Mixture Applications

Problem 3.65TI: Remy has $14,000 to invest in two mutual funds. One fund pays interest at 4% per year and the other...

See similar textbooks

Related questions

Q: Dominic pays 7% interest on his $12,000 college loan and 12% interest on his $11,000 car loan. What…

Q: After m months, you paid 25 + 10m for your computer. How much did you pay after 6 months?

Q: You have 6,000 saved in the account. You have decided to use 2100 for your upcoming spring break…

Q: How much interest will Vince earn in his investment of 17,500 php at 9.69% simple interest for 3…

Q: You decide to save for a car costing $1200 (You are a big spender). You want to make deposits for 24…

Q: Q18 If you earned a 3.3% return on your savings with a 20% tax rate, what is your after-tax rate of…

A: Formula for after-tax rate of return is return×(1-tax rate).

Q: George contemplates the purchase of100 shares of a stock selling for $15 per share. The stock paysno…

A: From given, P=$15100=$1500r=15%=0.15t=5n=1

Q: Question :- Tom bought a computer for 15% off from the list price of p dollars. If the sales tax was…

Q: Larry invests in a $100 savings plan.The plan pays 41/2% interest each year on his account balance.…

Q: 6. Ming purchased a car that had a purchase price of $5,400, which included all other costs and tax.…

A: We have to calculate the extra amount paid by ming.

Q: what is the 2%interest rate over 5 years

A: here given carlos has 3000 to open a bank account p =3000 R =2% N = 5 years I =PRN100

Q: You put $200 per month in an investment plan that pays an APR of 4.5%. How much money will you…

Q: James wants to buy a car that costs $14,550. The dealership will finance the car for 5 years, at…

Q: Q13 In an attempt to have funds for a down payment in five years, you plan to save $5925 each year…

Q: You buy a $252,000 home with a down payment of 27%. Find the amount of the down payment and the…

A: Answer: 1: Given cost of house = $252000 down payment = 27% or 27/100 we have to find amount of…

Q: Q2. Joshua borrowed $1000 from his friend and paid him back $1050 in six months. What simple annual…

Q: Pat borrowed $2,000 to help Pay college expenses. The interest rat was 8% annually, and she will…

A: P = 2000 r = 8% annually t = 6

Q: Eric's average income for the first 4 months of the year is $1,450.25, what must be his average…

A: From the provided information, Eric’s average income for the first 4 months of the year = $1450.25…

Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…

Q: Martin deposits $7,000 in an account with a rate of 3.25%.Find the amount of interest earned and the…

A: To find- amount of interest.

Q: Ben wants to purchase a new car in 3 years and expects the car to cost $30,000. His bank offers a…

Q: Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to…

Q: Teresa received $80 for her birthday. At what interest rate would she have to invest the money to…

A: We know that, for a Simple interest SI= P·R·T100where P = Principal,R = Rate of Interest,T = Time…

Q: Q15: Your family has annual loan payments equal to 28% of its annual income. During the year,the…

A: 15. Let the annual income of family is $x. Now, it is given that annual loan payment is 28% of…

Q: Dana bought a bicycle on an installment basis by paying P1, 000 downpayment and the balance at P500…

Q: 2.) Isaiah's dad makesa deal with him that he needs to pay for 15% of his new puppy. If the puppy…

Q: Safelight Corporation projects a year-end net income of $90,000. The net income represents 12% of…

A: Given, Year-end net income= $90000 Net income represents 12% of its projected annual sales. Let the…

Q: A man buys an electric fan from a merchant that charges P1,500 at the end of 120 days. The man…

Q: Shyna borrowed Php. 35,000 with an annual interest of 6%. How much would be the interest? a. 2,100…

Q: 2. Simone bought her house for $150,000 in 2000 and sold it for $725,000 in 2020. What are the total…

Q: A total of $20,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The…

A: If a amount P is invested at a interest rate r% per annum for t years, then the simple interest…

Q: Ethan has $60,000 to invest. He puts part of the money in a CDthat earns 3% simple interest per year…

Q: Fatima borrows RM5000 for six months from a lender who charges a discount rate of 9%.Find: a) The…

A: Given- Fatima borrows RS5000 for six months from a lender who charges a interest rate of 9%. To…

Q: 5. Julie's monthly net salary is $6500, and she budgets $1820 for housing expenses. What percent of…

A: We have to find

Q: John invested P120,000 in a bank which earned P37,800 after 3 1/2 years. Who is the investor? At…

A: Given that John invested P120,000 in a bank.So John is the investor.P=principle=P120000r=interest…

Q: You want to buy a fixer upper home. The owners are asking $25000 for the home. If the mortgage…

A: We have to find money given by company

Q: Eli opened a savings account with a one-time deposit of $400. The savings account pays a simple…

Q: Camille invested $3,000 into an account that earned annual simple interest. She made no additional…

Q: You put $350 per month in an investment plan that pays an APR of 4.5%. How much money will you…

A: let P = $350 the principal invested r = 0.045 or 4.5% annual interest rate t = 21 years

Q: New Kia Soul costs $17,546. After one year its cost depreciation is 13%. What is a price of Kia Soul…

A: The value of vehicles depreciates with time. So we have to calculate depreciation cost and reduce it…

Q: Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time.…

A: Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. We…

Q: Destiny's investment account was valued at $15,000 but then lost 17% of its value. What percent…

A: Destiny's investment account valued at $15000 => Initial value = 15000 Lost by 17% of its value.…

Q: Q4: Joe has decided to do some promotional pricing and is running a campaign offering 10% off the…

A: It is given that the Original Price of Bike is $700 He gives 10% off on $700 10% of 700=$70 This…

Q: Your aunt invests $400 into a savings account to help you pay for college textbooks. The savings…

Q: Ryan bought a $255,000.00 house, paying 10% down, and financing the rest at 7% interest for 15…

Q: Q17 You invested $2500 of your own money and borrowed $2500 from your broker to purchase shares of…

A: Total money invested =own money + borrowed money Hence, Total money invested=$2500 + $2500.…

Q: Ferdinand saved 10 pesos on the first day of the year , 12 pesos on the second day , 14 pesos on the…

A: Sequence: It is a function having a collection of objects that have a certain pattern with which the…

Q: In 2008, the Social Security tax percentage was 6.2% for the first $102,000 earned. The Medicare tax…

A: Given, In 2008, the Social Security tax percentage was 6.2% for the first $102,000 earned. and, the…

Q: Miguel purchased a hot tub costing $5,070 by taking out an installment loan. He made a down payment…

A: Amount which is financed is: A=5070-1300A=$3770Monthly installment:a=$173.77Number of…

Q: 6) Alarm clocks cost the manufacturer P850.48 per unit to produce. If a mark-up of P132.95 is added…

A: we know that selling price = manufacturing cost + mark-up cost.

Question

Q12

You invested $9,000 in to a mutual fund with a management fee of 0.85% of the total asset value. How much money do you pay as a management fee?

Expert Solution

This question has been solved!

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

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Areli invested a principal of $950 in her bank account with interest rate 3%. How much interest did she earn in 5years?
Susana invested a principal of $36,000 in her bank account that earned simple interest at an interest rate of 6.5%. How much interest did she earn in three years?
Susana invested a principal of $36,000 in her bank account with interest rate 6.5%. How much interest did she earn in 3 years?
Christian has been offered a new job that pays $24,000 a year plus 3% of sales. For what total sales would this new job pay more than his current job which pays $60,000?
Caleb has a pet sitting business. He charges $32 per hour. His monthly expenses are $2,272. How many hours must he work in order to earn a profit of at least $800 per month?
Tiffany just graduated from college and her new job will pay her $20,000 per year plus 2% of all sales. She wants to earn at least $100,000 per year. For what total sales will she be able to achieve her goal?
Elliot has a landscape maintenance business. His monthly expenses are $1,100. If he charges $60 per job, how many jobs must he do to earn a profit of at least $4,000 a month?
Bill works at a weekend convention by selling copies of a book. He receives a 2 commission for each copy sold. If he sells 25 copies on Saturday and 30 copies on Sunday, what is Bills total commission?
Bill uses the ATM on campus because it is convenient. However, each time he uses it he is charged a $2 fee. Last month he used the ATM eight times. How much was his total fee for using the ATM?
Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much interest will Nathaly earn in five years?
Remy has $14,000 to invest in two mutual funds. One fund pays interest at 4% per year and the other fund pays interest at 7% per year. How much should she invest in each fund if she wants to earn 6.1% interest on the total amount?