Section 2.3 #23: Paul has $20,000 to invest. He invests part of his money 8% and part at 12%. How much should he put in each account to earn a total of 11% on his investment?

Q: Jerry deposited $20,000 on an investment that will give $1,550 for every year that his money stays…

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Q: John's gross monthly earnings are based on commission rates of 4% on the first $40,000 of sales, 5%…

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Q: Amy invested $500 per month in a 401k that earned 6% annual return for 40 years. Hank invested…

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Q: A person invests 25,000 in two funds paying 3% and 4.5% simple interest. The annual interest equals…

A: Given Information - Total investment made = $25,000 Rate of investment in each fund = 3% and 4.5%…

Q: Laura retired from her job recently, and she has saved about $441, 238. 00 over the course of her…

A: We solve the problem by just constructing the equation and solving them.

Q: A total of $11,000 is invested in two different accounts. The first account at 6.5% simple interest…

A: Given problem:- A total of $11,000 is invested in two different accounts. The first account at 6.5%…

Q: Don James wants to invest $61,000 to earn $5,580 per year. He can invest in B-rated bonds paying 12%…

A: Don James wants to invest $61000 to earn $5580 per year. He can invest in B rated bonds paying 12%…

Q: You have $500,000 in an IRA (Individual Retirement Account) at the time you retire. You have the…

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Q: You have a total of $10,000 to invest in two simple interest accounts. On one account the simple…

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