Solve. -How Can $28,000 Be Invested, Part at 4% Annual Simple

question 125

Multiple Choice

Solve.
-How can $28,000 be invested, part at 4% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts is equal at the end of the year?

• A)$18,000 invested at 4%; $10,000 invested at 10%
• B)$10,000 invested at 4%; $18,000 invested at 10%
• C)$20,000 invested at 4%; $8000 invested at 10%
• D)$8000 invested at 4%; $20,000 invested at 10%

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Definitions:

Commerce Clause

A provision in the United States Constitution that grants Congress the power to regulate commerce with foreign nations, and among the several states, and with the Indian tribes.

Federal Power

Federal power encompasses the authorities and actions exercised by the federal government, as specified by the Constitution, including regulating interstate commerce, maintaining the armed forces, and creating federal laws.

Expansion

The process of increasing in size, number, or scope, often used in the context of territory, businesses, or organizations.

McCulloch v. Maryland

A landmark Supreme Court case in 1819 that established the federal government's implied powers under the Necessary and Proper Clause of the U.S. Constitution.