Question

uncle sammy invest money on stocks and makes 7 to 13 percent of the invested money. calculate the range of money sammy will make if the invest his next paycheck of 2300

Answer 1

1.07*2300 = 2461
1.13*2300=2599

He will make between 161 and 299 dollars

Answer 2

Given

uncle sammy invest money on stocks

makes 7 to 13 percent of the invested money

invest his next paycheck of 2300.

Find out the range of money sammy will make.

To proof

let us assume that the sammy will make money on 7 % investment =x

let us assume that the sammy will make money on 13% investment =y

As given in the question

sammy makes 7 to 13 percent of the invested money .

next paycheck of $2300

First written 7 % in the simpler form

`7\%=(7)/(100)`

= 0.07

First written 13 % in the simpler form

`13\%=(13)/(100)`

= 0.13

First case

invest at 7% = 0.07×2300

=$161

thus

x = 161 + 2300

x = $ 2461

Second case

invest at 13% = 0.13 ×2300

=$299

thus

y = 299 + 2300

= $2599

therefore the range of money sammy will make $ 2461 to $2599 .

Hence proved