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bebe
bebe asked in Education & ReferenceHomework Help · 9 years ago

Math Question! Help!?

Jack wants to invest $1550. He finds two banks that provide a rate of 6% and 8%, respectively. How should he invest in order to get a yearly return of $105?

1 Answer

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  • Mercy
    Lv 7
    9 years ago
    Favorite Answer

    A = P( 1 +r)^n

    A = 1550 x (1.06)(1)

    A = 1550 x 1.06 = $1643.

    You try the second one.

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