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 solution to the equation 2x + 5 = 13?
+
What is the definite integral of the square root of x from 0 to 4?
+
What is the unit vector in the direction of vector v = 2i - 3j + 4k?
+
New questions in Mathematics
A=m/2-t isolate t
Using a remarkable product you must factor the expression: f(x) =36x^2-324 and you are entitled to 5 steps
3(2+x)-2(2x+6)=20-4x
How many percent is one second out a 24 hour?
what is 3% of 105?
5) A family with a father, mother and 3 children must sit on five chairs in a row and the only restriction is that the mother must be at one end. In how many different ways can they be seated?
58+861-87
Two numbers differ by 7, and the sum of their squares is 29. Find the numbers.
A bird randomly chooses to land on 1 of 12 perches available in its aviary. Determine the Probability of it landing on a perch numbered 8 and then on a perch marked with a prime number; take into account that he never lands on the same perch in the sequence.
By direct proof, how can you prove that “The sum of any three consecutive even integers is always a multiple of 6”.
A recurring sequence is one where elements repeat after completing one standard. If the sequence AB8C14D96AB8C1... is recurring its twentieth term is equal to: (A) B. (B) 8. (C) A. (D) 6. (E) D.
From 1975 through 2020 the mean annual gain of the Dow Jones Industrial Average was 652. A random sample of 34 years is selected from this population. What is the probability that the mean gain for the sample was between 400 and 800? Assume the standard deviation is 1539
Determine the increase of the function y=4x−5 when the argument changes from x1=2 to x2=3
The two sides of the triangle are 12 cm and 5 cm, and the angle between the sides is 60°. Cover the area of ​​the triangle!
392929-9
Sabendo+que+o+tri%C3%A2ngulo+ABC+%C3%A9+ret%C3%A2ngulo+e+que+um+de+seus+%C3%A2ngulos+mede+30+quanto+mede+o+terceiro+ tri%C3%A2ngulo
We have received our p&l statement back from accounts. The board has asked for an innovation hub. What items should we prioritise reviewing to decide if we can afford an innovation hub?
4m - 3t + 7 = 16
Solve the system of equations by the addition method. 0.01x-0.08y=-0.1 0.2x+0.6y=0.2
(3b)⋅(5b^2)⋅(6b^3)