You had $10,000 to invest. You put x dollars in a safe, gove

Betsy Rhone 2021-12-21 Answered
You had $10,000 to invest. You put x dollars in a safe, government-insured certificate of deposit paying 5% per year. You invested the remainder of the money in noninsured corporate bonds paying 12% per year. Your total interest earned at the end of the year is given by the algebraic expression 0.05x+0.12(10,000x).
a. Simplify the algebraic expression.
b. Use each form of the algebraic expression to determine your total interest earned at the end of the year if you invested $6000 in the safe, government-insured certificate of deposit.
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Expert Answer

hysgubwyri3
Answered 2021-12-22 Author has 43 answers
Step 1
Given that we have to invest 10,000 and put x dollars in a self government -insured certificate that pays 5% and then invests rest of the money in corporate bonds that pays 12% interest. So the total interest earned at the end of the year is given by the function 0.05x+0.12(10000x).
We need to:
1) simplify the algebraic expression.
2) find the interest earned at the end of year if 6000 is invested in safe government insured certificate.
Step 2
1) First let us simplify the expression.
Let y=0.05x+0.12(10,000x)
y=0.05x+12000.12x
y=12000.07x is the simplified expression.
Step 3
2) if 6000 invested in the safe government insured certificate of deposit.
So x=6000.
y=12000.07(6000)
y=1200420
y=780.
So the interest earned at the end of the year is 780.
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Hattie Schaeffer
Answered 2021-12-23 Author has 37 answers
Step 1
To determine the total interest earned at the end of the year if we invested 6000$ in the safe, government-insured certificate of deposit, we should use the simplification that we did in the answer of part (a) and we replace x by $6000
Step 2
12000.07x=1200(0.076000)
=1200420
=$780
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nick1337
Answered 2021-12-28 Author has 575 answers

To simplify out the expression, we can distribute the multiplication over addition. (one of the properties)
0.05x+12000.12x
=12000.07x
We can use the equation we just determined to plug in 6000 for x to find the total interest.
12000.07(6000)=780

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