Question
You received an inheritance of $40,000 from a beloved uncle. With inflation so high, you decided that rather than save the inheritance, you are going to invest it. You were given two interest bearing accounts to invest in. One yields 7% simple interest and other pays 6.5%. You expect earn $2,640 in interest in total from both accounts in the first year. How much should you invest in each account?
232
likes1159 views
Answer to a math question You received an inheritance of $40,000 from a beloved uncle. With inflation so high, you decided that rather than save the inheritance, you are going to invest it. You were given two interest bearing accounts to invest in. One yields 7% simple interest and other pays 6.5%. You expect earn $2,640 in interest in total from both accounts in the first year. How much should you invest in each account?
Jon
4.6110 Answers
Express
Substitute
Substitute the value of
.
Frequently asked questions (FAQs)
Question: How many different arrangements can be made using the letters of the word "MATH" without repetition?
+
Math Question: What is the maximum value that a continuous function defined on a closed interval can achieve?
+
What is the probability of getting a 6 when rolling a fair six-sided dice?
+
New questions in Mathematics