A total of $60,000 was invested for one year. But of this amount earned simple annualinterest at the rate of x percent per year, and the rest earned simple annual interest at therate of y percent per year. If the total interest earned by the $60,000 for that year was$4,080, what is the value of x?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A total of $60,000 was invested for one year. But of this amount earned simple annualinterest at the rate of x percent per year, and the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
How do insurance companies make money
Answers (1)
A cartel is A. a government agency that regulates markets. B. an arbitrator to settle disputes between consumers and producers. C. a group of producers that agree to set common prices and output quotas. D.
Answers (1)
Mr. Hobbes Bed & Breakfast is considering the replacement of some old equipment. The new equipment will cost $86,000 including delivery and installation.
Answers (1)
Systematic risk refers to: movements in a stock portfolio's value that are attributable to macroeconomic forces affecting all firms in an economy. the level of diversifiable risk in an economy.
Answers (1)
A written agreement is called what a. contract b. solvency c. investment d. tariff
Answers (1)
New Questions in Business
true or false Activity cost pools are factory overhead costs initially budgeted for activities, such as machine usage, inspections, moving, production setups, and engineering activities.
Answers (1)
Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information. Within each section of the statement, use the drop-down menus to enter the accounts.
Answers (1)
A company is considering purchasing a machine for $21,000. The machine will generate an after-tax net income of $2,000 per year. Annual depreciation expense would be $1,500. What is the payback period for the new machine? a. 4 years. b. 6 years. c.
Answers (1)
A company purchased a delivery van for $15,500 with a salvage value of $2,300 on September 1, Year 1. It has an estimated useful life of 4 years.
Answers (1)
Money has a time value because
Answers (1)