WebAnswer: I = $ 1,937.50 Equation: I = Prt Calculation: First, converting R percent to r a decimal r = R/100 = 3.875%/100 = 0.03875 per year, then, solving our equation I = 10000 × 0.03875 × 5 = 1937.5 I = $ 1,937.50 The simple interest accumulated on a principal of $ 10,000.00 at a rate of 3.875% per year for 5 years is $ 1,937.50. WebJul 28, 2024 · Robin split a total of $24,000 between 2 investments, X and Y. If investment Y earns 7% simple annual interest, how much of that total did Robin put into investment Y? (1) Each investment earns the same dollar amount of the interest annually. (2) Investment X earns 5 percent simple annual interest.
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WebA couple invested $6,000 of their $20,000 lottery winnings in bonds. How much do they have left to in stocks? A college student wants to invest the $12,000 inheritance he received and use the annual interest earned to pay his tuition cost of $945. The highest rate offered by a bank is 6% annual simple interest. WebThe first company pays a salary of $12,000 plus a commission of $100 for each policy sold. The second pays a salary of $20,000 plus a commission of $50 for each policy sold. How many policies would need to be sold to make the total pay the same? arrow_forward Malik is planning a 6-day summer vacation trip. × maverick war of the silver kings
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WebOct 3, 2024 · An investment that returns $100,000 on a $1M principal value produced just a 10% return. The larger return provided more cash return, but a lower percentage total … WebQuestion 1158314: Blake has a total of $12,000 to invest into two accounts. One account earns 2% simple interest and the other earns 5% simple interest. ... How much should be invested in each account to earn exactly $390 at the end of one year Answer by Boreal(15194) (Show Source): You can put this solution on YOUR website! x at .02 12000 … WebMath Algebra Question you are given the total annual interest earned from a total of $12,000 invested in two funds paying the given rates of simple interest. Write and solve a system … maverick wallpaper 4k