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A certain amount of money was invested at 8% simple interest and after 9 months an equal amount was invested at 10% simple interest. Find the period in which the amount in each case become $ 52,000? How much money was invested in each case? Lütfen birini seçin: a. 3.75 years; $20,000 b. 3.50 years; $40,000 c. 3.50 years; $20,000 d. 3.75 years; $40,000

A certain amount of money was invested at 8% simple interest and after 9 months an equal amount was invested at 10% simple interest. Find the period in which the amount in each case become $ 52,000? How much money was invested in each case? Lütfen birini seçin: a. 3.75 years; $20,000 b. 3.50 years; $40,000 c. 3.50 years; $20,000 d. 3.75 years; $40,000

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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A certain amount of money was invested at 8% simple interest and after 9 months an equal amount was invested at 10% simple interest. Find the period in which the amount in each case become $ 52,000? How much money was invested in each case? Lütfen birini seçin: a. 3.75 years; $20,000 b. 3.50 years; $40,000 c. 3.50 years; $20,000 d. 3.75 years; $40,000
Transcribed Image Text:A certain amount of money was invested at 8% simple interest and after 9 months an equal amount was invested at 10% simple interest. Find the period in which the amount in each case become $ 52,000? How much money was invested in each case? Lütfen birini seçin: a. 3.75 years; $20,000 b. 3.50 years; $40,000 c. 3.50 years; $20,000 d. 3.75 years; $40,000
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