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NEW QUESTION: 1
An investment yielded an interest payment of $350 each month when the annual interest rate was 9%, what is the amount of the investment that should be invested with an annual interest rate of 8% if We want to gain 15% more each month?
A. $60,375
B. $50,400
C. $32,500
D. $41,300
E. $25,100
Answer: A
Explanation:
Explanation/Reference:
Explanation:
The new monthly payment should be 1.15 x $350 = $402.5. Now we'll proceed with the formula:
Principal × percent interest = interest earned
Principle × (0.08)× 1/12 = $402.5.
Solve for the principal (402.5 × 12)/.08= $60,375.
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You review a Knowledge Base article.
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B. SNMP uses a continuous stream model
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