Question

Investments Suppose that you have $4000 to invest and you invest x dollars at 10% and the remainder at 896, write expressions in x that represent (a) the amount invested at 8%, (b) the interest earned on the x dollars at 10%, (c) the interest earned on the money invested at 8% (d) the total interest earned.

Answer 1

Explanation:

you have $4000 to invest and you invest x dollars at 10% and the remainder at 8℅.

a) an expression in x that represent the amount invested at 8% is

4000 - x

b) The The formula for simple interest is expressed as

I = PRT/100

Where

P represents the principal

R represents interest rate

T represents time in years

I = interest after t years

From the information given

P = $x

R = 10%

Assuming the investment is for 1 year, then interest,

I = (x × 10 × 1)/100

I = $0.1x

c) P = 4000 - x

R = 8℅

I = [(4000 - x) × 8 × 1)]/100

I = (32000 - 8x)/100

I = 320 - 0.08x

d) the total interest earned is

I = 0.1x + 320 - 0.08x

I = 0.02x + 320