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
88 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)
Question: Consider the unit vector u = (1/√2)i + (1/√2)j. Find the components of vector v = -3i + 4j in the direction of u.
+
What is the value of angle x in a triangle where one angle is 45 degrees and the other angle is 90 degrees?
+
What is the radius of a circle with the equation x^2 + y^2 = 25?
+
New questions in Mathematics
A circle with a 12-inch diameter is folded in half and then folded in half again. What is the area of the resulting shape?
Write 32/25 as a percent
Evaluate limx→∞tan−1(x) using that y=tan−1(x) exactly when x=tan(y) . (Hint: Both tan and tan−1 are continuous!)
The Lenovo company manufactures laptop computers, it is known that for every 60 laptops produced, 54 go on the market with the highest quality standards. If a sample of 15 laptops is taken, calculate the probability that: Exactly 2 are not of high quality
3x+2/2x-1 + 3+x/2x-1 - 3x-2/2x-1
The data set (75, 85, 58, 72, 70, 75) is a random sample from the normal distribution No(µ, σ). Determine a 95% two-sided confidence interval for the mean µ .
224 × (6÷8)
Perpetual annuities are a series of payments whose duration has no end. Explain how can we calculate them, if they have no end?
A company that manufactures personal hygiene items purchases machinery for $220,000 that is considered to last 7 years; it is estimated that at the end of the period it will have a salvage value of $1000. Find: to. The depreciation rate. b. The book value at the end of the sixth year.
-3(-4x+5)=-6(7x-8)+9-10x
Log5 625
It is known that the content of milk that is actually in a bag distributes normally with an average of 900 grams and variance 25 square grams. Suppose that the cost in pesos of a bag of milk is given by 𝐶(𝑥) = { 3800 𝑠𝑖 𝑥 ≤ 890 4500 𝑠𝑖 𝑥 > 890 Find the expected cost.
Let v be the set of all ordered pairs of real numbers and consider the scalar addition and multiplication operations defined by: u+v=(x,y)+(s,t)=(x+s+1,y+t -two) au=a.(x,y)=(ax+a-1,ay-2a+2) It is known that this set with the operations defined above is a vector space. A) calculate u+v is au for u=(-2,3),v=(1,-2) and a=2 B) show that (0,0) #0 Suggestion find a vector W such that u+w=u C) who is the vector -u D) show that axiom A4 holds:-u+u=0
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?
find missing measure for triangle area = 48 m square base = 10m heaighy = ? m
A house located within the city limits has a current market value of $325,000 according to a recent appraisal. The assessed value from the last county wide tax valuation is $272,475. The tax rate is $0.36 per hundred for the county and $0.72 per hundred for the city. What is the total annual property tax liability on the property? $2340 $3510 $1962 $2943
We plan to test whether the mean mRNA expression level differs between two strains of yeast, for each of 8,000 genes. We will measure the expression levels of each gene, in n samples of strain 1 and m samples of strain 2. We plan to compute a P-value for each gene, using an unpaired two-sample t-test for each gene (the particular type of test does not matter). a) What are the null hypotheses in these tests (in words)? [2] b) If, in fact, the two strains are identical, how many of these tests do we expect to produce a P-value exceeding 1/4? [2]
Calculate the area of the parallelogram with adjacent vertices (1,4, −2), (−3,1,6) 𝑦 (1, −2,3)
94 divided by 8.75
A grain silo has a height of 8.8m with a 11.4m diameter. If it is filled 0.5% of it's volume, how much grain (m^3) is stored in the silo? (0 decimal places)