Taylor Invests Part of Her $2 000 Savings into a Savings

question 240

Essay

Taylor invests part of her $2 000 savings into a savings account at 6% and part into a GIC at 8% simple interest. If she gets $150 in interest from the two investments, calculate how much she invested at each rate.

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Definitions:

Storage

The act of keeping or placing goods or data in a designated space for future use or retrieval.

Small Business

A business is generally considered small if it is independently owned, operated, and financed; has fewer than 100 employees; and has relatively little impact on its industry.

Purchasing Priority

The practice of prioritizing procurement activities based on factors such as urgency, price, or importance to the business.

Holding Costs

Expenses related to keeping inventory on hand.