uncle sammy invests money on stocks and makes 7 to 13 percent of the invested money. Calculate the range of money sammy will mak

Question

2 months ago

8

e if he invests his next paycheck of $2,300.

1 answer:

Svet_ta [12.7K] · Answer 1 · 2026-03-19T09:28:06+03:00

Uncle Sammy has invested a total of $2,300.

The minimum interest rate he earns is 7%.

Let us compute the least amount Uncle Sammy could earn from his $2,300 investment at 7%.

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

Uncle Sammy's maximum interest rate is 13%.

Now, let’s determine the highest amount Uncle Sammy can earn from investing $2,300 at 13%.

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

In conclusion, the earnings range for Uncle Sammy from his next paycheck investment of $2,300 is between $161 and $299.