Last year Kareem had $ 20 , 000 to invest. He invested some of it in an account that paid 8 % simple interest per year, and he invested the rest of it in an account that paid 7 % simple interest per year. After one year, he received a total of $ 1540 in interest. How much did he invest in each account?

$14,000 and $6,000

Explanation:

Account A = Account that paid 8% simple interest

Account B = Account that paid 7% simple interest

W1 = Proportion of money invested in Account A

W2 = Proportion of money invested in Account B

W2 = 1 - W1

Total interest Kareem received = $1,540

Total interest = ($20,000) (W1) (8%) + ($20,000) (W2) (7%)

$1,540 = (1600) (W1) + (1400) (1-W1)

Solving for W1

W1 = 0.7

W2 = 1 - W1 = 1 - 0.7 = 0.3

Money invested in Account A = 20,000 x 0.7 = $14,000

Money invested in Account B = 20,000 x 0.3 = $6,000

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answergoing to the symphony;