A person plans to invest a total of $8500 in an Invesco High Yields fund at 5.5% annual interest and a Fidelity OTC Portfolio fund at 21.2% annual interest. How much should he invest in each fund so that the total interest in one year will be $860?

Q: Marsha and Jan both invested money on March​ 1, 2007. Marsha invested ​$9,000 at Bank A where the…

A: Given Information: Marsha and Jan both invested money on March​ 1,2007 Marsha invested $9000 at Bank…

Q: Jorge decides to invest $4600 in a savings account, one that compounds interest quarterly at a rate…

A: Given data: P=$ 4600 Time, t = 5 years Case 1) If interest is compounded quarterly. Rate of…

Q: When Russell had a certain amount of savings in a private insurance company for his retirement He is…

A: Current savings:  Annual savings: Desired retirement income: Interest rate: And also know that…

Q: A certain amount is invested at 9% annual simple interest, and after 11 years, its investment is…

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Q: A campus bookstore marks up clothing to provide for overhead expenses of 20% of cost and a profit of…

A: Solution: We have to  determine the markdown rate at which the bookstore can break even on sales, we…

Q: If Max has $40,057.29 in his investment account, what effective interest rate would he need to earn…

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Q: Mitch and Bill are both age 75. When Mitch was 24 years old, he began depositing $1000 per year into…

A: We will solve this using formula of Amount for finding answer of the question

Q: Ken68 has $260,000 and his investment goal is to have it accumulate to $287,000. Ken68 is going to…

A: In this question we have to find time to achieve his investment goal.

Q: In Edgar’s state, unemployment compensation is calculated by finding the total of the quarterly…

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Q: You are saving for a dream vacation that will cost $5,000.  How many years will you have to wait…

A: We need to calculate the time taken for the amount to become 5000 $

Q: A sum of $25,000 is deposited into an account paying 5.4% interest per year, compound daily. What…

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Q: At a 5 % annual interest rate, a principal of $2,000 earns $ 400. How long was the principal…

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Q: Zach invested $200 per month in a mutual fund that averaged 9% net growth per year with interest…

A:

Q: A manufacturer of ovens sells them for $1,510.00 each. The variable costs are $1,030.00 per unit.…

A: Step 1: Method to Calculate the Net IncomeNet Income can be calculated using Cost-Volume-Profit…

Q: Your credit card has a balance of $3200 and an annual interest rate of 16%. You decide to pay off…

A:

Q: A $50,000 retirement pension is to be invested into two accounts: a money market fund that pays 8.5%…

A: An amount of $50,000 is invested in two accounts that pays 8.5% and 10.5%. Yearly interest is $4550.…

Q: After some thought, you have decided that you will need $60,000 each year to live on after you…

A: This is a problem related to simple interest calculation. Based on the general formula of simple…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.