Upon selling his residence, the lawyer Hinojosa buys a flat and deposits the rest in an account that earns him 8.4% simple annual interest. How much did he get for his house if in 5 years the account earned him $243,600 in interest and how much money did he invest in the flat, assuming 53.6%?
Upon selling his residence, the lawyer Hinojosa buys a flat and deposits the rest in an account that earns him 8.4% simple annual interest. How much did he get for his house if in 5 years the account earned him $243,600 in interest and how much money did he invest in the flat, assuming 53.6%?
Chapter6: Business Expenses
Section: Chapter Questions
Problem 69P
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Upon selling his residence, the lawyer Hinojosa buys a flat and deposits the rest in an account that earns him 8.4% simple annual interest. How much did he get for his house if in 5 years the account earned him $243,600 in interest and how much money did he invest in the flat, assuming 53.6%?
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ISBN:
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Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT