SOLUTION: frank is looking into 2 investment companies. company A charges an $80 fee and gives a 12% rate. company B charges a $50 fee and a 10% rate
write an expression that would repres
Algebra ->
Finance
-> SOLUTION: frank is looking into 2 investment companies. company A charges an $80 fee and gives a 12% rate. company B charges a $50 fee and a 10% rate
write an expression that would repres
Log On
Question 1150623: frank is looking into 2 investment companies. company A charges an $80 fee and gives a 12% rate. company B charges a $50 fee and a 10% rate
write an expression that would represent each companies investment plan if (m) stood for the money frank invests
company a=
company b=
how much would frank need to invest for the two company's to give back the same return?
if frank is going to invest $3000, which company should he use and which company will his return be with respect to the other company? Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! frank is looking into 2 investment companies. company A charges an $80 fee and gives a 12% rate. company B charges a $50 fee and a 10% rate
write an expression that would represent each companies investment plan if (m) stood for the money frank invests
company a: f(m) = .12m - 80
company b: f(m) = .10m - 50
:
how much would frank need to invest for the two company's to give back the same return?
a = b
.12m - 80 = .10m - 50
.12m - .10m = -50 + 80
.02m = 30
m = = 30/.02
m = $1500 invested to get equal returns
:
if frank is going to invest $3000, which company should he use and which company will his return be with respect to the other company?
a: .12(3000) - 80
a: 360 - 80
a: $280 return
and
b: .10(3000) - 50
b: 300 - 50
b: $250 return
Obviously a is a better plan for $3000
