menu
Qammunity.org
Login
Register
My account
Edit my Profile
Private messages
My favorites
A $10,000 investment is made partly in a GIC at 5% and partlly in a mutual fund that will earn 7.5%. If the same amount of interest is earned in both, how much was invested in e…
Ask a Question
Questions
Unanswered
Tags
Ask a Question
A $10,000 investment is made partly in a GIC at 5% and partlly in a mutual fund that will earn 7.5%. If the same amount of interest is earned in both, how much was invested in e…
asked
May 26, 2018
197k
views
5
votes
A $10,000 investment is made partly in a GIC at 5% and partlly in a mutual fund that will earn 7.5%. If the same amount of interest is earned in both, how much was invested in each rate?
Mathematics
high-school
Aliaksandr Pitkevich
asked
by
Aliaksandr Pitkevich
8.3k
points
answer
comment
share this
share
0 Comments
Please
log in
or
register
to add a comment.
Please
log in
or
register
to answer this question.
1
Answer
4
votes
Hi there
If the same amount of interest is earned in both so we should create the equation according to that
0.05x=0.075 (10000-x)
Solve for x
0.05x=0.075×10000-0.075x
0.05x=750-0.075x
0.05x+0.075x=750
0.125x=750
X=750÷0.125
X=6000 invested at 5%
10000-6000=4000 invested at 7.5%
Check your answer
0.05×6000=0.075×4000
300=300
Good luck!
Cortnee
answered
May 30, 2018
by
Cortnee
8.1k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
← Prev Question
Next Question →
Related questions
asked
Jun 5, 2017
29.5k
views
Carl invests $10000, partly in a secure GIC at 5% and the rest in a mutual fund that he thinks will earn 7.5%. If he expects to earn the same amount of interest in both, how much did he invest at each
Rockford
asked
Jun 5, 2017
by
Rockford
7.7k
points
Mathematics
high-school
1
answer
1
vote
29.5k
views
asked
Oct 16, 2017
93.7k
views
carl invests $10000,partly in a secure GIC at 5% and the rest in a mutual fund that he thinks will earn 7.5%. if he expects to earn the same amount of interest in both, how much did he invest at each rate
Przemek
asked
Oct 16, 2017
by
Przemek
8.5k
points
Mathematics
high-school
1
answer
1
vote
93.7k
views
asked
Feb 7, 2024
39.3k
views
Dave is a thirty-year-old high school music teacher who has investments in a 5 -year GiC, a high interest savings account, and a money market segregated fund. Given this scenario Dave's major investment
Mikael
asked
Feb 7, 2024
by
Mikael
7.6k
points
Business
high-school
2
answers
3
votes
39.3k
views
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.
9.4m
questions
12.2m
answers
Categories
All categories
Mathematics
(3.7m)
History
(955k)
English
(903k)
Biology
(716k)
Chemistry
(440k)
Physics
(405k)
Social Studies
(564k)
Advanced Placement
(27.5k)
SAT
(19.1k)
Geography
(146k)
Health
(283k)
Arts
(107k)
Business
(468k)
Computers & Tech
(195k)
French
(33.9k)
German
(4.9k)
Spanish
(174k)
Medicine
(125k)
Law
(53.4k)
Engineering
(74.2k)
Other Questions
How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Twitter
WhatsApp
Facebook
Reddit
LinkedIn
Email
Link Copied!
Copy
Search Qammunity.org