Solve. -Charlotte Invested $6000 in Money Market Funds. Part Was Invested

question 137

Multiple Choice

Solve.
-Charlotte invested $6000 in money market funds. Part was invested at 15% interest, the rest at 11% interest. At the end of each year the fund company pays interest. After one year she earned $764 in simple interest. How
Much was invested at each interest rate?

• A)$2400 at 11%;
• B)$2600 at 11%;
• C)$2600 at 15%;
• D)$2400 at 15%; $3600 at 15% $3400 at 15% $3400 at 11% $3600 at 11%

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Definitions:

Slope

The measure of the steepness or incline of a line, defined as the ratio of the vertical change to the horizontal change between two points on the line.

True Slope

The actual slope of the relationship between two variables in the population, as opposed to an estimated slope.

Least-Squares Regression

A statistical method that estimates the best-fitting line through a set of points by minimizing the sum of the squares of the vertical distances from the points to the line.

Cottage Cheese

A fresh cheese curd product with a mild flavor, characterized by small to large curd sizes.