Solve the Problem. -Walt Made an Extra $10,000 Last Year from a Part-Time

question 29

Multiple Choice

Solve the problem.
-Walt made an extra $10,000 last year from a part-time job. He invested part of the money at 2% and the rest at 3.25%. He made a total of $237.50 in interest. How much was invested at 3.25%?

• A) $5000
• B) $8000
• C) $7000
• D) $3000

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Definitions:

Statement Of Cash Flows

A firm’s financial statement that summarizes its sources and uses of cash over a specified period.

Accounts Receivable

Unpaid customer accounts for delivered goods or services to a company.

Operating Activities

Activities related to the daily operations of a business, such as selling products, managing costs, and paying employees, as reflected in the company’s cash flow.

Source Of Cash

Any activity or operation that brings money into the organization, increasing its cash availability.