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A man invest 20000 at an annual interest rate of 17 percent and 1200 at an annual interest rate of 7.5 percent what was his annual income on the two investments?
Wiki User
∙ 14y ago
17% of 20,000 = 3,400
7.5% of 1,200 = 90
3,400 + 90 = $3,490
Wiki User
∙ 14y ago
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A man invests 20000 at an annual interest rate of 7 percent and 12000 at an annual interest rate of 7.5 percent what was his annual income on the two investments?
O.K. First of all, you need to know that I = P X R X T...Interest equals principal times rate times time. I = 20000 X .07 X 1 ++++++++++++++++ I =12000 X .075 X 1 (That's 7% above and 1 is for 1 year, see?) I = $1,400 I = $900 Now, add the two numbers above, 1400 + 900 = $2,300. That's it, easy huh?
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A man invests 20000 at an annual interest rate of 7 percent and 12000 at an annual interest rate of 7.5 percent what was his annual income on the two investments?
O.K. First of all, you need to know that I = P X R X T...Interest equals principal times rate times time. I = 20000 X .07 X 1 ++++++++++++++++ I =12000 X .075 X 1 (That's 7% above and 1 is for 1 year, see?) I = $1,400 I = $900 Now, add the two numbers above, 1400 + 900 = $2,300. That's it, easy huh?
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