I = PRT.....rearrange = I / PR = T
I = 450
R = 7.5%...turn to decimal = 0.075
P = 2400
I / (PR) = T
450 / (2400 * 0.075) = T
450 / 180 = T
2.5 = T...so time is 2.5 years, or 2 1/2 years
Answer:
4(4g+5h)
Step-by-step explanation:
Factor out the 4.
Answer:
- $85,000 at 6.25%
- $65,000 at 6.00%
Step-by-step explanation:
Let x represent the amount invested at 6.25%. Then the total interest earned is ...
0.0625x + 0.0600(150,000 -x) = 9212.50
0.0025x = 212.50 . . . . . . subtract 9000, collect terms
x = 212.50/0.0025 = 85,000
150,000 - 85,000 = 65,000 . . . . amount invested at the lower rate
$85,000 is invested at 6.25%; $65,000 is invested at 6%.