Two investments are made summing up to 28,800. For a certain year, these investments yield 11,437 in simple interest. Part of the investment is allotted for 12% and part at 15%. Find the amount invested at each rate.

Two investments are made summing up to 28,800. For a certain year, these investments yield 11,437 in simple interest. Part of the investment is allotted for 12% and part at 15%. Find the amount invested at each rate.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.5: Solve Linear Inequalities

Problem 2.118TI: Elliot has a landscape maintenance business. His monthly expenses are $1,100. If he charges $60 per...

See similar textbooks

Related questions

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

Q: Last year, Jose had $30,000 to invest. He invested some of it in an account that paid 7% simple…

Q: You invested $8000 between two accounts paying 3% and 9% annual interest, respectively. If the…

Q: A plant supervisor must split her 40-hour workweek between hours working on the assembly line and…

A: Given that: A plant supervisor split her 40 hour workweek between hours working on the assembly line…

Q: You invested $ 4000 between two accounts paying 6 % and 8 % annual interest, respectively. If the…

A: It is given that $4000 was invested between two accounts paying 6% and 8% annual interest.

Q: A sum of $20,000 was invested in two municipal bonds, which pay 4% and 5% simple interest. The…

Q: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

A: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

Q: Stuart pays back two student loans over a 4-yr period. One loan charges the equivalent of 3% simple…

A: Given: -

Q: You invested $7000 in two accounts paying 6% and 8% annual interest. If the total interest earned…

Q: A house painter charges $12 per hour for the first 40 hours he works, time and a half for the 10…

A: Given that, house painter charges $12 per hour for the first 40 hours he works, time and a half for…

Q: You invested $10,000 in two accounts paying 5% and 8% annual interest, respectively. If the total…

Q: Phyllis invested $8,000, a portion earning a simple interest rate of 5 1/5% per year and the rest…

A: Let $x be invested at a simple interest rate of 515% per year. Then the money invested at a simple…

Q: Two brothers, Steven and Michael, each inherit $35000. Steven invests his inheritance in a savings…

Q: Jessica has $6,200 invested in two accounts. For the first year, she earns $212 more in interest…

A: To work out the amounts invested.

Q: Larry Mitchell invested part of his $29,000 advance at 3% annual simple interest and the rest at 4%…

Q: You invested $13,000 in two accounts paying 7% and 8% annual interest, respectively. If the total…

A: Given total amount invested=$ 13000Let x be invested at 7%then (13000-x) is invested at 8%Total…

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

Q: You invested $7000 between two accounts paying 5% and 8% annual interest, respectively. If the total…

Q: You invested $8000, part of it in stock that paid 12% annual interest.The restof the money suffered…

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: You invested $23,000 in two accounts paying 8% and 9% annual interest, respectively. If the total…

A: To solve the given question we first set up an equation with the help of a unknown variable ,then we…

Q: You invested $4000 between two accounts paying 2% and 8% annual interest, respectively. If the total…

Q: A person inherited $30,000 and invested the money in two accounts that earned 8.5% and 10% simple…

Q: earned

Q: you invested $3000 between two accounts paying 6% and 9% annual interest, respectively. If the total…

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

Q: Three students are planning to rent an apartment for a year and share equally in the cost. By adding…

A: Given: Three students are planning to rent for a year and share equally in the cost. by adding a…

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: Aaron was offered a job that paid a salary of $47,000 in its first year. The salary was set to…

A: NOTE: Refresh your page if you can't see any equations. . the first-year salary is $47000 so take…

Q: Petra invested $750 in an aggressive stock fund that earned $60 per year. Regina invested $900 in a…

A: let a=750,d1=60 & b=900, d2=35 the nth term of any sequence with first term ‘a’ & common…

Q: Robin invested $1000 in a 12% simple interest savings deposit for 3 years. He also invested an equal…

A: Robin invested $1000 in a 12% simple interest deposit for 3 years. he also invested an equal amount…

Q: Last year, Sally was making $12,000 more a year than Willy. Sally then received a 10% raise while…

A: Given that Sally earns $12000 more than willy. After receiving the raise Sally earns $ 10860 more…

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: Linda is twice as old as Minda. 10 years ago, the sum of their ages is 40. How old is Linda?

Q: Fernando invested money in a 3-yr CD (certificate of deposit) that returned the equivalent of 4.4%…

A: let x be the amount invested with a 4.400 interest in 3 years and the amount invested with a 300…

Q: You invested $4000 between two accounts paying 6% and 8% annual interest. If the total interest…

A: Let I invested x in 6% and (4000-x) in 8% account. So, interest from 6% account after 1 year =…

Q: A new car worth $25,000 is depreciating in value by $5,000 per year. After how many years will the…

Q: Phyllis invested $12,500, a portion earning a simple interest rate of 4÷% per year and the rest…

Q: You invested $26,000 in two accounts paying 8% and 9% annual interest, respectively. If the total…

Q: You invested $8000 between two accounts paying 3% and 7% annual interest, respectively. If the…

Q: A manlift rents for $624 dollars a week and the charge for delivery and pickup is $125. How many…

Q: Last year, Isabel had $20,000 to invest. She invested some of it in an account that paid 7% simple…

A: Given:Isabel had a total amount of $20,000 to invest.One of her invesetment gave her a 7% interest…

Q: Larry Mitchell invested part of his $34,000 advance at 5\% annual simple interest and the rest at…

A: Larry Mitchell invested part of his $34,000 advance at 5\% annual simple interest and the rest at…

Q: Ms. Parker deposits $8000 in one simple interest account and $2000 in a second simple interest…

Q: You invested $16,000 in two accounts paying 6% and 9% annual interest, respectively. If the total…

A: The interest earned in first year with an investment of P, I = PR R is rate of interest

Q: while

A: John has P1 = $ 23000 Tom has P2 = $ 23000 John invests his money in a savings account with an…

Q: Laura borrowed a total of $22,000 from two different banks to start a business. One bank charged the…

A: To find: The amount borrowed from each bank. Given: Total amount of money borrowed from two bank is…

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

Q: If Ben invests $4000 at 4% interest per year, how much additional money must he invest at 5.6%…

A: Ben invests $4000 at 4% interest per year. Let $x be invested at 5.6% annual interest to ensure that…

Question

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 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Keisha devised a week-long study plan to prepare for finals. On the first day, she plans to study for 1 hour, and each successive day she will increase her study time by 30 minutes. How many hours will Keisha have studied after one week?
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?
Geraldine has been offered positions by two insurance companies. The first company pays a salary of $12,000 plus a commission of $100 for each policy sold. The second pays a salary of $20,000 plus a commission of $50 for each policy sold. How many policies would need to be sold to make the total pay the same?