Math Problem Statement
Solution
To solve these questions, let's break down the given information and calculate each part step by step.
- Investment Details:
- Certificate of deposit: $2000 at 4% interest per year.
- Corporate bonds: $6000 at 9% interest per year.
Part (a): Total Interest Earned at the End of 1 Year
Step 1: Calculate the interest earned from the certificate of deposit.
Step 2: Calculate the interest earned from the corporate bonds.
Step 3: Add both interests to find the total interest.
So, the answer to (a) is:
Part (b): Percent Interest for Her Total Investment
Step 1: Calculate the total investment.
Step 2: Calculate the percent interest.
So, the answer to (b) is:
Would you like further details or have any questions?
Related Questions:
- How would the total interest change if the corporate bond rate increased to 10%?
- What would the total interest be if she had invested $5000 in each option instead?
- How can we calculate the percent interest if we only know the interest rates and proportions of investment?
- What is the impact of compounding interest on the total interest earned over one year?
- How would the results differ if Nicole invested only in one option with the total amount?
Tip: For percentage calculations, remember that dividing the interest by the total investment and multiplying by 100 gives you the percent interest rate for any investment scenario.
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Math Problem Analysis
Mathematical Concepts
Simple Interest
Percentage Calculation
Formulas
Interest = Principal × Rate
Percent Interest = (Total Interest / Total Investment) × 100
Theorems
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Suitable Grade Level
Grades 9-12
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