uncle sammy invests money on stocks and makes 7 to 13 percent of the invested money. Calculate the range of money sammy will make if he invests his next paycheck of $2,300.

Question

Mathematics

Carmelo Stephens

6 March, 08:06

uncle sammy invests money on stocks and makes 7 to 13 percent of the invested money. Calculate the range of money sammy will make if he invests his next paycheck of $2,300.

+4

Answers (1)

Know the Answer?

Larissa Espinoza · Answer 1

The invested money by uncle Sammy = $2,300.

Uncle Sammy makes minimum percent = 7 %.

So, let us calculate the minimum amount Uncle Sammy can make to invest $2,300 at 7%.

7% of 2,300 = 0.07 * 2,300 = $161.

Uncle Sammy makes maximum percent = 13 %.

So, let us calculate the maximum amount Uncle Sammy can make to invest $2,300 at 13%.

13% of 2,300 = 0.13 * 2,300 = $299.

Therefore, the $161 - $299 is the range of money uncle Sammy will make if he invests his next paycheck of $2,300.