Stan Invested $32,000, Part at 2% and Part at 17

question 97

Multiple Choice

Stan invested $32,000, part at 2% and part at 17%. If the total interest at the end of the year is $2890, how much did he invest at 2% ?

• A) $16,000
• B) $18,000
• C) $17,000
• D) $15,000

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Definitions:

Economy's Production

The total value of all goods and services produced within an economy over a specific time period.

Goods and Services

The physical items (goods) and activities (services) that satisfy human wants and needs and are offered in the marketplace for purchase.

GDP

Gross Domestic Product signifies the total monetary value of all goods and services produced within a country's boundaries over a predetermined time frame, reflecting the nation's economic health.

GDP Deflator

The GDP deflator is an economic metric that converts output measured at current prices into constant-dollar GDP.