Ms Hagan Invested Twice as Much Money in an Account

question 10

Multiple Choice

Ms. Hagan invested twice as much money in an account that pays interest as she did in an account that pays in interest. Her total investment pays her a year in interest. How much did she invest at each rate?

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Definitions:

Domestic Output

The total value of all goods and services produced within a country's borders in a given time period.

Marginal Benefit

The boost in enjoyment or value obtained when one more unit of a product or service is consumed or produced.

Economic Theory

A conceptual framework that explains economic processes, behaviors, and the interaction of economic agents, based on assumptions and predictions.