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

question 85

Multiple Choice

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

• A) $10,000 invested at 4%; $18,000 invested at 10%
• B) $18,000 invested at 4%; $10,000 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:

Western Societies

Cultures and communities typically found in Western Europe and North America, characterized by democratic political systems, capitalist economies, and specific socio-cultural norms.

Bureaucratized

The process of managing an organization by adhering strictly to fixed rules and formalities.

Hospitalized

The state of being admitted to a hospital for treatment, observation, or care, often due to illness, injury, or surgery.

American Society

The collective social structure of the United States, characterized by its cultural diversity, values, and norms.