Question

I have $10,000 to invest for my daughter's car. I

Ratios, rates, proportions
ANSWERED
asked 2021-08-19
I have $10,000 to invest for my daughter's car. I earned $215.04 when splitting the money into a 3% interest account and a 1.2% interest account. How much did I invest at each?

Expert Answers (1)

2021-08-20
Let x be the amount invested in 3% interest so that 10000−x is the amount invested in 1.2% interest.
The interest earned is $215.04 so we can write:
0.03(x)+0.012(10000−x)=215.04
Solve for x:
0.03x+120−0.012x=215.04
0.018x+120=215.04
0.018x=95.04
x=5280
So, you invested $5280 at 3% and $10000 - $5280 = $4720 at 1.2%.
31
 
Best answer

expert advice

Have a similar question?
We can deal with it in 3 hours

Relevant Questions

asked 2021-06-07
I have $10,000 to invest for my daughter's car. I earned $215.04 when splitting the money into a 3% interest account and a 1.2% interest account. How much did I invest at each?
asked 2021-08-17
To define:
Unit price in my own words.
asked 2021-08-19
To calculate: The number of miles that the car can travel on 9 gal of gas if Toni drives her 132 mi on the highway on 4 gal of gas.
asked 2021-05-14
Consider the accompanying data on flexural strength (MPa) for concrete beams of a certain type.
\(\begin{array}{|c|c|}\hline 11.8 & 7.7 & 6.5 & 6 .8& 9.7 & 6.8 & 7.3 \\ \hline 7.9 & 9.7 & 8.7 & 8.1 & 8.5 & 6.3 & 7.0 \\ \hline 7.3 & 7.4 & 5.3 & 9.0 & 8.1 & 11.3 & 6.3 \\ \hline 7.2 & 7.7 & 7.8 & 11.6 & 10.7 & 7.0 \\ \hline \end{array}\)
a) Calculate a point estimate of the mean value of strength for the conceptual population of all beams manufactured in this fashion. \([Hint.\ ?x_{j}=219.5.]\) (Round your answer to three decimal places.)
MPa
State which estimator you used.
\(x\)
\(p?\)
\(\frac{s}{x}\)
\(s\)
\(\tilde{\chi}\)
b) Calculate a point estimate of the strength value that separates the weakest \(50\%\) of all such beams from the strongest \(50\%\).
MPa
State which estimator you used.
\(s\)
\(x\)
\(p?\)
\(\tilde{\chi}\)
\(\frac{s}{x}\)
c) Calculate a point estimate of the population standard deviation ?. \([Hint:\ ?x_{i}2 = 1859.53.]\) (Round your answer to three decimal places.)
MPa
Interpret this point estimate.
This estimate describes the linearity of the data.
This estimate describes the bias of the data.
This estimate describes the spread of the data.
This estimate describes the center of the data.
Which estimator did you use?
\(\tilde{\chi}\)
\(x\)
\(s\)
\(\frac{s}{x}\)
\(p?\)
d) Calculate a point estimate of the proportion of all such beams whose flexural strength exceeds 10 MPa. [Hint: Think of an observation as a "success" if it exceeds 10.] (Round your answer to three decimal places.)
e) Calculate a point estimate of the population coefficient of variation \(\frac{?}{?}\). (Round your answer to four decimal places.)
State which estimator you used.
\(p?\)
\(\tilde{\chi}\)
\(s\)
\(\frac{s}{x}\)
\(x\)
...