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If you give x money to the bank paying 6% interest, then the amount of interest received is 0.06*x.
If you gave x to the first account, the money left over must be 12600-x, so if you give 12600-x money to the second account, the interest is 0.08*(12600-x)
Now we want both amounts of interest to be equal so,
0.06x = 0.08(12600-x)
=> 0.06x = 0.08*12600 - 0.08x
=> 0.06x = 1008 - 0.08x
=> 0.06x + 0.08x = 1008
=> 0.14x = 1008
=> x = 1008/0.14 = 7200
You give 7200 to the 6% interest account, as you chose to give them x money.
You have 5400 money left to give to the 8% interest account (12600 - x).
What else can I help you with?
What is the interest on 300000 savings?
The answer depends on the interest rates on offer and these will vary between lending establishments and between countries.
What is the difference between earning interest and paying interest?
One person (or organisation) pays interest to another - who earns it.
What is the difference between present value interest factors versus future value interest factor?
The Present Value Interest Factor PVIF is used to find the present value of future payments, by discounting them at some specific rate. It decreases the amount. It is always less than oneBut, the Future Value Interest Factor FVIF is used to find the future value of present amounts. It increases the present amount. It is always greater than one.
What is the difference between ordinary interest and exact interest?
So ordinary interest is 30 days collecting or gathering interest on a dollar and exact is collecting or gathering 1 year interest on a dollar.
What is the formula for difference between simple interest and compound interest?
P(r/100)^2
What is the relationship between the yield and interest rate in financial investments?
The relationship between yield and interest rate in financial investments is that they are directly related. When interest rates increase, the yield on investments also tends to increase, and vice versa. This means that as interest rates go up, the yield on investments will also go up, and as interest rates go down, the yield on investments will also go down.
What is the relationship between yield and interest rate in the context of investments?
The relationship between yield and interest rate in investments is that they are directly related. When interest rates go up, the yield on investments also tends to increase. Conversely, when interest rates go down, the yield on investments typically decreases. This means that changes in interest rates can impact the return on investment for investors.
What is the relationship between interest rates and investments?
Interest rates and investments have an inverse relationship. When interest rates are low, investments tend to increase as borrowing costs are cheaper, making it more attractive for individuals and businesses to invest. Conversely, when interest rates are high, investments may decrease as borrowing costs rise, making it less appealing to invest.
What is a high interest certificate of deposit?
High interest CD's are a good way to store your money if you don't want to take the risk of losing any through investments. Interest rates on CD's generally range between 1-2% per year. If you are looking to make more money, secure investments might be the best way to go.
Are there high interest rates on certificate of deposit?
Interest rates on CDs are generally between 1 and 2 percent, so not really. If you want high returns, you'll need to look into investments, which can be risky.
How many times an interest is given in a year on saving account?
That depends on the type of account for some it can be daily for others it can be annually (and all periods in between).
What is the difference between interest rate and APY when you are shopping for a certificate of deposit?
APR simply reflects the annual interest rate that is paid on an investment, but doesnÕt take into effect how interest is applied. APY takes into account how often the interest is applied to the balance, which can vary daily to annually.
How does the relationship between bonds and interest rates impact investment decisions?
The relationship between bonds and interest rates impacts investment decisions because when interest rates rise, bond prices tend to fall, and vice versa. This means that investors need to consider the potential impact of changing interest rates on the value of their bond investments when making decisions.
What is the interest rate on an american express gold?
"The average interest rate on an American Express Gold Card is between 17 and 19 percent annually. However, on past due balances that jumps up to 30 percent."
How can you maintain a balance between high risk and low risk investments?
Diversifying your investments will help maintain a balance between high risk and low risk investments.
What is the correlation between the price of gold and interest rates?
The correlation between the price of gold and interest rates can be a bit complicated. If there is a higher yield of gold in a year, the interest rates and price tend to lessen; the more gold there is, the easier it is to acquire. If other investments offer increasing returns, gold prices and rates will tend to lower.
How does the relationship between interest rates and bond prices impact investment decisions?
The relationship between interest rates and bond prices impacts investment decisions because when interest rates rise, bond prices tend to fall, and vice versa. This means that investors need to consider the potential impact of interest rate changes on their bond investments, as it can affect the value of their portfolio.
