Jamaal is planning to invest up to $25000 in City Bank or State Bank. He wants...
Jamaal is planning to invest up to $25000 in City Bank or State Bank. He wants to invest at least $2000 in City Bank, but not more than $7000; since State Bank does not insure more than $22000, he wants to invest no more than this amount in State Bank. The interest at City Bank is 2%, and the interest at State Bank is 12%. How much should he invest in each bank to earn the most interest? What is the maximum amount of interest that Jamaal can earn?
Homework Answers
Please give it a thumbs up if
you like the answer. Comment if any problem in solution. :)
Add Answer to:
Jamaal is planning to invest up to $25000 in City Bank or State
Bank. He wants...
(1 point) A couple wants to invest up to $60000. They can purchase a type A bond yielding 9.5% re...
(1 point) A couple wants to invest up to $60000. They can purchase a type A bond yielding 9.5% return and a type B bond yielding a 12% return on the amount invested. They also want to invest at least as much in the type A bond as in the type B bond. They will also invest at least $30000 in type A and no more than $48000 in type B bond. How much should they invest in each type...
You have $200,000 to invest for a year and have two choices. Bank A pays 8%...
You have $200,000 to invest for a year and have two choices. Bank A pays 8% annually, compounded annually. Bank B pays 8% annually, compounded quarterly. Which bank should you choose and why? A. Bank A since its effective annual rate is greater than that of Bank B. B. Bank B since its effective annual rate is greater than that of Bank A. C. It does not matter since their effective annual rate is the same 8%. D. Bank B...
her secured investments. How much should she invest today to meet this purpose? 3. Amna wants...
her secured investments. How much should she invest today to meet this purpose? 3. Amna wants to deposit $5000 into a saving fund at the beginning of each month. If she can earn 12% compounded interest semiannually how much amount will be there in he saving fund at the end of 8 years?
Christine O'Brien, who is self-employed, wants to invest $70,000 in a pension plan. One investment offers...
Christine O'Brien, who is self-employed, wants to invest $70,000 in a pension plan. One investment offers 8% compounded quarterly. Another offers 7.75% compounded continuously. a. Which investment will earn the most interest in 4 years? b. How much more will the better plan earn? c. What is the effective rate in each case? d. If Ms. O'Brien chooses the plan with continuous compounding, how long will it take for her $70,000 to grow to 90,000? e. How long will it...
a. Given: Mr. Uga has $100 million to invest. He wants his investment to triple in...
a. Given: Mr. Uga has $100 million to invest. He wants his investment to triple in 6 years. A bank offers him an attractive rate of return that is compounded monthly. Solve for: What interest rate per month should the bank pay Mr. Uga in order for his investment to triple in 6 years? b. Given: Mr. Buga would like to invest a lump sum of money today in order withdraw $10,00 five years from today, $10,000 ten years from...
2. Piecewise functions. Terry earns a base salary of $2100 per month. Once he reaches $40000...
2. Piecewise functions. Terry earns a base salary of $2100 per month. Once he reaches $40000 in total sales, he earns an additional 5% commission (salary) on the amount of sales over $40000. Lets be the amount of his total sales for the month and M(s) be the amount of his salary for the month. (For instance, if he had sales of $42000 for the month, he would earn a salary of $2100 and 5% of $2000, since $42000 is...
5. A company wants to set up a reserve which will help the company to have...
5. A company wants to set up a reserve which will help the company to have an annual equivalent amount of 10,00,000 US. Dollars for the next 20 years towards its employees welfare measures. The reserve is assumed to grow at the rate of 15% annually. Find the single-payment that must be made now as the reserve amount. 6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US. Dollars at an interest rate of...
4. [0/4 Points] DETAILS PREVIOUS ANSWERS Frad wants to take out a loan. Suppose he can...
4. [0/4 Points] DETAILS PREVIOUS ANSWERS Frad wants to take out a loan. Suppose he can afford to make monthly payments of 600 dollars and the bank charges interest at an annual rate of 6 percent, compounded monthly What is the maximum amount that Fred could afford to borrow if the loan is to be paid off eventually? (Give your answer, in dollars, correct to the nearest dollar) amount he can borrow = [0/4 Points) DETAILS PREVIOUS ANSWERS Derek wants...
here's the solution for the problem but still not coming up with the answer. how to...
here's the solution for the problem but still not
coming up with the answer. how to calculate the problem on
calculator?
1. Sammy anticipates that he will need approximately $250,000 in 17 years to cover his 1- year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8% compounded monthly? 1113 69% = 5.82 1310 Solution: Sammy would need to invest $65,032.18 into the account today to make $250,000...
Problem It An investor has $1,000,000 to invest at the start of year I. He can...
Problem It An investor has $1,000,000 to invest at the start of year I. He can invest in five different bach fund has different availability and maturity times as shown in the table below. As an sen dollr invested in fund A at the beginning of year I returns 50.50 at the start of year 2 and at the start of year 3, Similarly, each dollar invested in fund B in year 2 yields $1.25 at the start of year...
(1 point) A couple wants to invest up to $60000. They can purchase a type A bond yielding 9.5% return and a type B bond yielding a 12% return on the amount invested. They also want to invest at least as much in the type A bond as in the type B bond. They will also invest at least $30000 in type A and no more than $48000 in type B bond. How much should they invest in each type...
her secured investments. How much should she invest today to meet this purpose? 3. Amna wants to deposit $5000 into a saving fund at the beginning of each month. If she can earn 12% compounded interest semiannually how much amount will be there in he saving fund at the end of 8 years?
a. Given: Mr. Uga has $100 million to invest. He wants his investment to triple in 6 years. A bank offers him an attractive rate of return that is compounded monthly. Solve for: What interest rate per month should the bank pay Mr. Uga in order for his investment to triple in 6 years? b. Given: Mr. Buga would like to invest a lump sum of money today in order withdraw $10,00 five years from today, $10,000 ten years from...
2. Piecewise functions. Terry earns a base salary of $2100 per month. Once he reaches $40000 in total sales, he earns an additional 5% commission (salary) on the amount of sales over $40000. Lets be the amount of his total sales for the month and M(s) be the amount of his salary for the month. (For instance, if he had sales of $42000 for the month, he would earn a salary of $2100 and 5% of $2000, since $42000 is...
5. A company wants to set up a reserve which will help the company to have an annual equivalent amount of 10,00,000 US. Dollars for the next 20 years towards its employees welfare measures. The reserve is assumed to grow at the rate of 15% annually. Find the single-payment that must be made now as the reserve amount. 6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US. Dollars at an interest rate of...
4. [0/4 Points] DETAILS PREVIOUS ANSWERS Frad wants to take out a loan. Suppose he can afford to make monthly payments of 600 dollars and the bank charges interest at an annual rate of 6 percent, compounded monthly What is the maximum amount that Fred could afford to borrow if the loan is to be paid off eventually? (Give your answer, in dollars, correct to the nearest dollar) amount he can borrow = [0/4 Points) DETAILS PREVIOUS ANSWERS Derek wants...
here's the solution for the problem but still not
coming up with the answer. how to calculate the problem on
calculator?
1. Sammy anticipates that he will need approximately $250,000 in 17 years to cover his 1- year-old daughter's college bills for a 4-year degree. How much would he have to invest today at an interest rate of 8% compounded monthly? 1113 69% = 5.82 1310 Solution: Sammy would need to invest $65,032.18 into the account today to make $250,000...
Problem It An investor has $1,000,000 to invest at the start of year I. He can invest in five different bach fund has different availability and maturity times as shown in the table below. As an sen dollr invested in fund A at the beginning of year I returns 50.50 at the start of year 2 and at the start of year 3, Similarly, each dollar invested in fund B in year 2 yields $1.25 at the start of year...
Most questions answered within 3 hours.
-
What is the volume occupied by 0.254 mol of helium gas at 1.32
atm and 308...
asked 29 seconds ago -
The person in the drawing is standing on crutches. Assume that
the force exerted on each...
asked 4 minutes ago -
What’s in a name? A rose by any other name would smell
as sweet.” Although this...
asked 10 minutes ago -
A vending machine automatically pours soft drinks into cups. The
amount of soft drink dispensed into...
asked 12 minutes ago -
4. Atom hybridization changes in many chemical reactions. In
each of the following reactions, determine what...
asked 16 minutes ago -
1) Action potential
a) Explain how an action potential moves down a cell wall. Be
very...
asked 17 minutes ago -
Suppose you fell into an accretion disc that swept you into a
supermassive black hole. On...
asked 23 minutes ago -
An automobile travels on a straight road for 40 km at 45 km/h.
It then continues...
asked 31 minutes ago -
1)
A student sitting on a chair on a circular platform of
negligible mass rotates freely...
asked 43 minutes ago -
Bird Enterprises has no debt. Its current total value is $47.2
million. Assume the company sells...
asked 45 minutes ago -
5. What is span of control? List three factors that may affect
span of control.
6....
asked 50 minutes ago -
How can you visualize anthranilic acid on TLC plates? How can
you visualize carboxylic acids on...
asked 48 minutes ago