Essay Available:

You are here: Home → Math Problem → Mathematics & Economics

Pages:

1 page/≈275 words

Sources:

No Sources

Level:

APA

Subject:

Mathematics & Economics

Type:

Math Problem

Language:

English (U.S.)

Document:

MS Word

Date:

Total cost:

$ 4.32

Topic:

# Solution to how much a couple should invest (Math Problem Sample)

Instructions:

The question asked for a solution to determine how much the couple should invest in Certificates of Deposit (CDs) yielding 6% and AA bonds yielding 11% to realize a total income of $15,600 per year. The solution provided calculated that they should invest $40,000 in CDs and $120,000 in AA bonds to achieve this income goal. source..

Content:

Solution
Let X= amount invested in Certificates of Deposit(6% per annum)
Let Y= amount invested in AA bonds (11% per annum)
Generate these 2 equations;
1 X + Y= $160,000 ( total amount they have to invest)
2 6%X (0.06X) + 11%Y (0.11Y) = $ 15,600 ( total income they want to realize)
Using Elimination Method
Let's find the value of X from the equations
X= 160,000-Y
Substituting this value of X in the second equation
0.06($160,000 - Y) + 0.11Y = $15,600.
Now, lets find Y;
0.06 * $160,000 - 0.06Y + 0.11Y = $15,600.
$9,600 + 0.05Y = $15,600.
0.05Y = $15,600 - $9,600
0.05Y = $6,000.
Y = $6,000 / 0.05.
Y = $120,0...

Get the Whole Paper!

Not exactly what you need?

Do you need a custom essay? Order right now:

### Other Topics:

- Computation on Excise Tax Description: When an excise tax is levied on the seller, the new supply equation becomes: Qs = 5 + 0.5(P - 2) = 3 + 0.5P To find the new equilibrium price and quantity, we need to equate the new demand and supply equations: 20 - 1.5P = 3 + 0.5P Simplifying and solving for P, we get: 2P = 17 P = 8.5 Therefore, the...2 pages/≈550 words| No Sources | APA | Mathematics & Economics | Math Problem |
- Creating Equations and Solving System of Equations Description: Problem Description Julia wants to buy some apples and oranges from a grocery store. The store charges $0.60 per apple and $0.80 per orange. Julia wants to buy a total of 15 fruits and spend exactly $9. What is the number of apples and oranges that Julia should buy? NOTE: You must show all work! Problem...5 pages/≈1375 words| No Sources | APA | Mathematics & Economics | Math Problem |
- Logarithmic EquationsDescription: By Using the log property of addition, we can write the left side of the equation: log(x-1) + log(x+1) = log((x-1)(x+1)) So the above equation becomes: log((x-1)(x+1)) = log21 Using another logarithmic property that if log(a) = log(b) if and only if a = b, so from above equation we can write (x-1)(x+1)...1 page/≈275 words| No Sources | APA | Mathematics & Economics | Math Problem |