Given
uncle sammy invest money on stocks
makes 7 to 13 percent of the invested money
invest his next paycheck of 2300.
Find out the range of money sammy will make.
To proof
let us assume that the sammy will make money on 7 % investment =x
let us assume that the sammy will make money on 13% investment =y
As given in the question
sammy makes 7 to 13 percent of the invested money .
next paycheck of $2300
First written 7 % in the simpler form
[tex]7\%=\frac{7}{100}[/tex]
= 0.07
First written 13 % in the simpler form
[tex]13\%=\frac{13}{100}[/tex]
= 0.13
First case
invest at 7% = 0.07×2300
=$161
thus
x = 161 + 2300
x = $ 2461
Second case
invest at 13% = 0.13 ×2300
=$299
thus
y = 299 + 2300
= $2599
therefore the range of money sammy will make $ 2461 to $2599 .
Hence proved
