Formulate a system of equations for the situation below and solve.The annual returns on Sid Carrington's three investments amounted to $21,600: 4% on a savings account, 8% on mutual funds, and 14% on bonds. The amount ofSid's investment in bonds was twice the amount of his investment in the savings account, and the interest earned from his investment in bonds was equal to thedividends he received from his investment in mutual funds. Find how much money he placed in each type of investment.savings account$540000mutual funds$1890000bonds$1000000Need Help?Read IXXXWatch it

Let says, Investment in Saving account = X Investment in Mutual Fund = Y Investment in…

Answered: The annual returns on Sid Carrington's…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Wendy has $8,000.00 invested in a bank that pays 13.75% annually. How long will it take for her funds to triple?Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72. A. 8.53 years B. 6.48 years C. 8.36 years D. 7.50 years E. 10.66 years
Kyle invested money in a mutual fund for ten years. The interest rate on the mutual fund was 3% compounded quarterly for the first five years and 5% compounded semi- annually for the next five years. At the end of the ten years, Kyle's mutual fund had accumulated to $41,788.50. a. Calculate the amount that was in the mutual fund after the first five years when the interest rate changed. Round to the nearest cent b. Calculate the amount that was invested in the mutual fund at the beginning of the period. Round to the nearest cent c. Calculate the total amount of interest earned from this investment. Round to the nearest cent
Array intends to allocate her savings into various types of financial investments. She has $110,900 to invest in stocks, bonds, and mutual funds according to her chosen ratio 2 13 9 : 15 11 1 respectively. How much should she invest in each type of investment? Round your answers to the nearest dollar. Stocks: $ Bonds: $ Mutual Funds: $
1.Mr. Romuaro Godinez comes to the financial advisor Alquimidez Serrano, and asks him to calculate the interest to be earned on a deposit for the amount of 850,000.00; when the current interest rate is 8.75%, capitalizable quarterly, and it was invested for 15 years, 4 months and 17 days. The Finance Company reinvests at simple interest when there are not complete capitalization periods.
Matthew invested the profit of his business in an investment fund that was earning 3.75% compounded monthly. He began withdrawing $2,500 from this fund every 6 months, with the first withdrawal in 4 years. If the money in the fund lasted for the next 3 years, how much money did he initially invest in the fund? $ $0.00 Round to the nearest cent
Alan invests a total of $11,000 in three different ways. He invests one part in a mutual fund which in the first year has a return of 11%. He invests the second part in a government bond at 7% per year. The third part he puts in the bank at 5% per year. He invests twice as much in the mutual fund as in the bank. The first year Alan's investments bring a total return of $890. How much did he invest in each way?
Willie invests some money at 7.5%. He also invests $4,000 less than this amount at 6.59. His total annual incomefrom the interest of these two investments is $1,000. How much money is invested at each rate?
Albert made investments of $1000 each for two years. The first one at an interest of 4.8% compounded monthly and the second at 4.9% compounded annually. Calculate the total value of his investment in two years. Select one: A. $2100.55 B. $2000 C. $2200.95 D. $1100.55 E. $1100.40
Array intends to allocate her savings into various types of financial investments. She has $194,400 to invest in stocks, bonds, and mutual funds according to her chosen respectively. How much should she invest in each type of investment? Round your answers to the nearest dollar. 4 1 7 ratio : 3 9 11 Stocks: $ Bonds: $ • Mutual Funds: $
Maricopa's Success scholarship fund receives a gift of $ 115000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 % interest, bonds pay 5.7 % interest, and stocks pay 8.9 % interest. Maricopa Success invests $ 35000 more in bonds than in CDs. If the annual income from the investments is $ 7845 , how much was invested in each account? Maricopa Success invested $ in stocks. Maricopa Success invested $ in bonds. Maricopa Success invested $ in CDs. Question Help: D Video Submit Question
Amy opened an RRSP account and deposited $1,000 into it. She then deposited $600 at the end of the 1st year and $625 at the end of the 2nd year, into the account. The RRSP was earning 2.20% compounded quarterly.a. What is the accumulated value of the investments at the end of the 2nd year?rounded to two decimal placesb. What is the accumulated value of the investment at the end of 8 years? small telecommunications company invested its 2010 net income of $561,400 in a savings account for 4 years and 4 months. Money was earning interest at a rate of 7.25% compounded monthly.a. Calculate the amount it would have in this account at the end of the period.rounded to two decimal placesb. Calculate the interest earned.rounded to two decimal places

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