Mike invested $6000 for one year. He invested part of it at 9% and the rest at 11%. At the end of the year he?

Answer 1

x = the amount of money he invested at 9%
then
6000 - x = the amount of money he invested at 11%

A = the money he has at the end of the year

A = P + Prt
while t = 1 year

A = 6000 + .09x + .11(6000 - x)

A = 6000 + .09x + 660 - .11x
A = 6660 - .02x

Now you need to know either the amount invested at 9% (x)
Or the money he has at the end of the year (A)

Answer 2

The question can't be answered because we do not know how much money was invested at 9% or how much at 11%.

Answer 3

First question enable x = volume invested at 9% so, 6000 - x is volume invested at 11% pastime earned is comparable to useful x cost x time ... for this reason, the useful is x, cost is 9% expressed as 0.09, and time a million year ... PLUS ... useful (6000 - x), cost 11% expressed as 0.11, and time a million year. ... EQUALS ... $624 (entire pastime earned) this gives you the formula as follows: 0.09x + 0.11(6000 - x) = 624 that's solved as follows: 0.09x + 660 - 0.11x = 624 (eliminating parenthesis utilising distributive assets) -0.02x + 660 = 624 (simplify left edge of equation) -0.02x = -36 (subtract 660 from the two facets) x = 1800 (divide the two facets by potential of -0.02) for this reason, $1800 is invested at 9% and 6000 - 1800 or $4200 is invested at 11%. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ to ascertain this: $1800 at 9% is 1800 circumstances 0.09 or $162 from this investment and ... $4200 at 11% is 4200 circumstances 0.11 or $462 from this investment ... for a entire of $624 pastime won. **************************************... 2d question enable x = miles pushed company A rates 3($35) + 0.25x company B rates 3($40-one) + 0.16x driving some miles, company A could be perfect. to locate the form of miles that the two companies could charge an identical, set the two rates equivalent to a minimum of one yet another for the equation as follows and resolve: 3($35) + 0.25x = 3($40-one) + 0.16x one hundred and five + 0.25x = 123 + 0.16x ..... subtract 0.16x from the two facets to get one hundred and five + 0.09x = 123 ..... subtract one hundred and five from the two facets to get 0.09 = 18 ..... divide the two facets by potential of 0.09 to get x = 200 for this reason, the companies charge an identical volume for vacationing 200 miles. something decrease than 200 miles, company A may be the greater suitable good deal. something over 200 miles, company B could be a greater suitable good deal. ~~~~~~~~~~~~~~~~~~~~~~ to ascertain this, 201 miles could fee as follows: company A ----- one hundred and five + 0.25(201) = one hundred and five + 50.25 = $one hundred fifty five.25 company B ----- 123 + 0.sixteen(201) = 123 + 32.sixteen = $one hundred fifty five.sixteen ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~... very final solutions: question a million .... $1800 at 9% and $4200 at 11% question 2 .... 201 miles for company B to be the greater suitable good deal

Answer 4

Could you tell me where I can also invest at 9-11%? My stupid bank only gives like 0.5 %.

Answer 5

You only get 100 characters for the question. Beyond that, you have to finish your question in the "Additional Details".

Answer 6

that depends to solve this question we either need the total that he made or we need to define the quantity/value of "part of it" before we continued at the given information we cant solve this

Answer 7

has more money than he did when he started investing...

Answer 8

Gets a huge tax bill!!

Answer 9

had more money than I did.