Question

In: Math

An investment of ​$119,000 was made by a business club. The investment was split into three...

An investment of ​$119,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned​ 8% interest, the second​ 6%, and the third​ 9%. Total interest from the investments was $ 9030. The interest from the first investment was 3 times the interest from the second. Find the amounts of the three parts of the investment.

Solutions

Expert Solution

milcah answered 2 hours ago
< Previous

Related Solutions

An investment of $62,000 was made by a business club. The investment was split into three...
An investment of $62,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earning 8% interest, the second 6%, and the third 9%. Total interest from the investment was $4740. The interest from the first investment was three times the interest from the second. Find the amounts of the three parts of the investment. The first part is Thr second part is The third part...
an investment of $54000 was made by a business club. The investment was split into three...
an investment of $54000 was made by a business club. The investment was split into three parts and lasted for one year. the first part of the investment earned 8% interest, the second 6% and the third 9%. total interest for the investment was $4260. the interest was 6 times the interest was 6 times the interest from thr second. find the amounts of the three parts.
An investment of ​$71,000 was made by a business club. The investment was split into three...
An investment of ​$71,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned​ 8% interest, the second​ 6%, and the third​ 9%. Total interest from the investments was $5490.  The interest from the first investment was 6 times the interest from the second. Find the amounts of the three parts of the investment.
The Business Club at Elk College Our VP of Marketing just learned the Business Club at...
The Business Club at Elk College Our VP of Marketing just learned the Business Club at Elk College (BCEB) is hosting the State Conference of Business Clubs on April 9 – 11, 2018 at the Central Downtown Campus in Dallas, Texas. Jack Morton director of the club has requested an Information System to register, monitor and house participants for the conference. BCEB has requested through the Director of Computer Systems Support that (You), one of our Marketing officers, investigate and...
You are given the following information for Smashville, Inc. Cost of goods sold: $ 119,000 Investment...
You are given the following information for Smashville, Inc. Cost of goods sold: $ 119,000 Investment income: $ 2,300 Net sales: $ 232,000 Operating expense: $ 40,000 Interest expense: $ 7,400 Dividends: $ 11,000 Tax rate: 40 % Current liabilities: $ 18,000 Cash: $ 21,000 Long-term debt: $ 25,000 Other assets: $ 39,000 Fixed assets: $ 126,000 Other liabilities: $ 5,000 Investments: $ 43,000 Operating assets: $ 45,000    During the year, Smashville, Inc., had 17,000 shares of stock outstanding...
Anne Wilson, starting her own business, made an investment of a building to the company. The...
Anne Wilson, starting her own business, made an investment of a building to the company. The building is valued at $400,000 with a $360,000 outstanding mortgage payable. The effect of this transaction on the accounting equation of the business would be to:
Business Decision Case The Reserve Club is a traditional private golf and country club that has...
Business Decision Case The Reserve Club is a traditional private golf and country club that has three different categories of memberships: golf, tennis & swimming, and social. Golf members have access to all amenities and programs in the Club, Tennis & Swimming members have access to all amenities and programs except use of the golf course, and Social members have access to only the social activities of the club, excluding golf, tennis, and swimming. All members have clubhouse privileges, including...
Decision on Accepting Additional Business Brightstone Tire and Rubber Company has capacity to produce 119,000 tires....
Decision on Accepting Additional Business Brightstone Tire and Rubber Company has capacity to produce 119,000 tires. Brightstone presently produces and sells 91,000 tires for the North American market at a price of $104 per tire. Brightstone is evaluating a special order from a European automobile company, Euro Motors. Euro is offering to buy 14,000 tires for $85.1 per tire. Brightstone's accounting system indicates that the total cost per tire is as follows: Direct materials $40 Direct labor 15 Factory overhead...
A claim is made where 15% of all people will join a club if handed a...
A claim is made where 15% of all people will join a club if handed a brochure about it. Of 300 people in a sample who were handed a brochure, 40 joined the club. with .05 level of significance, is there ample proof the claim is true? Explain.
Sprockets, Inc. made an investment into three different long term assets. The first was purchased for...
Sprockets, Inc. made an investment into three different long term assets. The first was purchased for 750,000 and will be depreciated at a straight line for five years. The second was an investment of $1,000,000 and will be depreciated using the 5-year MACRS method. The third cost $1,500,000 and will be depreciated utilizing 7-years MACRS. The company’s required rate of return is 10% and the tax rate is 21%. What is the depreciation schedule for the first asset? What is...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT