Question

Larry Mach invested part of the 21,000 from his salary advance at a simple annual interest rate of 6%, and the remainder at a simple annual interest rate of 4% if the total interest he earned during the year on both accounts was of 1060, determine the amount invested at each rate the company must sell how many tons?

122

likes
608 views

Answer to a math question Larry Mach invested part of the 21,000 from his salary advance at a simple annual interest rate of 6%, and the remainder at a simple annual interest rate of 4% if the total interest he earned during the year on both accounts was of 1060, determine the amount invested at each rate the company must sell how many tons?

Expert avatar
Madelyn
4.7
86 Answers
Let's assume that Larry Mach invested x amount of dollars at a 6% annual interest rate.
So, the amount he invested at a 4% annual interest rate would be (21,000 - x) dollars.

Now, we'll calculate the interest earned from both accounts.
The interest earned from the amount invested at a 6% annual interest rate would be: 0.06x.
The interest earned from the amount invested at a 4% annual interest rate would be: 0.04(21,000 - x).

According to the given information, the total interest earned was $1060, so we can set up the following equation:

0.06x + 0.04(21,000 - x) = 1060

Now, let's solve this equation to find the value of x:

0.06x + 0.04(21,000) - 0.04x = 1060
0.06x + 840 - 0.04x = 1060
0.02x + 840 = 1060
0.02x = 1060 - 840
0.02x = 220
x = \frac{220}{0.02}

Now, let's calculate the value of x:

x = \frac{220}{0.02} = 11,000

Therefore, Larry Mach invested $11,000 at a 6% annual interest rate, and the remaining amount (21,000 - 11,000 = $10,000) at a 4% annual interest rate.

Answer: Larry Mach invested $11,000 at a 6% annual interest rate and $10,000 at a 4% annual interest rate.

Frequently asked questions (FAQs)
What is the value of f(x) = 2x^2 + 5 when x = 4?
+
Math question: "Graph the exponential function y = 2^x. Identify the x-intercept and the asymptote.
+
Math question: What is the simplified form of log(x^2) + log(√y) − log(z) + log(10^4)?
+
New questions in Mathematics
-11+29-18
The derivative of a power is obtained just by subtracting 1 from the power True or false
1 plus 1
(3x^(2) 9x 6)/(5x^(2)-20)
If eight basketball teams participate in a tournament, find the number of different ways that first, second, and third places can be decided assuming that no ties are allowed.
calculate the area in square units of A rectangle with length 6cm and breadth 5cm
determine the polynomial F of degree 2 that interpolates. f at points (0;1) (2;5) (4;6). calculate F(0.8). Note: Using the polynomial expression with difference operator.
With the aim of identifying the presence of the feline leukemia virus (FeLV), blood samples were collected from cats sent to a private veterinary clinic in the city of Belo Horizonte. Among the animals treated, it was possible to observe that age followed a Normal distribution with a mean of 4.44 years and a standard deviation of 1.09 years. Considering this information, determine the value of the third quartile of the ages of the animals treated at this veterinary clinic. ATTENTION: Provide the answer to exactly FOUR decimal places
A box of numbered pens has 12 red, 12 blue, 12 green and 12 yellow pens. The pens for each colour are numbered from 1 to 12. There is a unique number on each pen, so no pen is exactly the same as any other pen in the box. When reaching into the box to randomly draw five pens without replacement, what is the proportion of getting exactly four pens of the same colour (Note: the numbers matter but the order does not)?
sum of 7a-4b+5c, -7a+4b-6c
Convert 5/9 to a decimal
ind the z-score for which 72% of the distribution's area lies between -z and z. -1.7417, 1.7417 -1.1538, 1.1538 -1.0803, 1.0803 -2.826, 2.826
In a 24 hours period, the average number of boats arriving at a port is 10. Assuming that boats arrive at a random rate that is the same for all subintervals of equal length (i.e. the probability of a boat arriving during a 1 hour period the same for every 1 hour period no matter what). Calculate the probability that more than 1 boat will arrive during a 1 hour period. (P(X>1) ) Give your answers to 4 decimal places and in a range between 0 and 1
factor the polynomial completely over the set of complex numbers b(x)=x^4-2x^3-17x^2+4x+30
Let X be a discrete random variable such that E(X)=3 and V(X)=5. Let 𝑌 = 2𝑋^2 − 3𝑋. Determine E(Y).
x²-7x+12=0
To paint a 250 m wall, a number of workers were employed. If the wall were 30 m longer, 9 more workers would be needed. How many were employed at the beginning?
answer this math question The scale on a map is drawn so that 5.5 inches corresponds to an actual distance of 225 miles. If two cities are 12.75 inches apart on the map, how many miles apart are they? (Round to the nearest tenth) miles apart. The two cities are how many miles apart
3(x-4)=156
Sarah is lining a square tray with 1 inch square tiles. the side length of the tray is 9 inches. How many tiles does Sarah need?