Anita invested $6000, some at 5% and the rest at 6%. if the yearly income is $337.50, what is the amount invested at each rate?

Let the amount invested with 5% interest be x

Therefore, the amount invested with 6% interest will be (6000-x)

It is given that the total interest earned yearly is $337.5. Thus, the equation of interest will be:

Multiplying both sides by 100 we get:

Subtracting both sides by 36000 we get:

Thus, the amount invested at 5% is $2250

Therefore, the amount invested at 6% will be $(6000-2250)=$3750

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

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step-by-step explanation: