Solve the Problem. -Helen Weller Invested $14,000 in an Account That Pays 12

question 155

Multiple Choice

Solve the problem.
-Helen Weller invested $14,000 in an account that pays 12% simple interest. How much additional money must be invested in an account that pays 15% simple interest so that the average return on The two investments amounts to 13%?

• A)$7000
• B)$10,000
• C)$11,000
• D)$14,000

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Definitions:

Economic Structure

The classification of an economy based on various sectors, such as agriculture, manufacturing, and services, indicating the allocation of resources among these sectors.

Ownership Of Resources

The legal right or control individuals or entities have over natural, physical, or intellectual properties and resources.

Economic Activities

Activities that involve the production, distribution, and consumption of goods and services within an economy.

Absolute Advantage

The capability of a country or individual to produce more of a good or service with the same amount of resources as competitors.