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Expert: Michael Tadesse - 9/20/2009


Question
you plan to invest $12000 in 2 funds paying 4 1/2% and 5% simple interest. Your goal is to obtain a total annual interest of $1000 from the investments. what is the smallest amount you can invest in the 4 1/2% fund and still meet your objective?

Answer
Hello Stephanie

This is a simple interest problem.

I reckon you know the formula of the simple interest.

I = P*R*T, where P is the money you invest, R is the rate of interest and T is the time.
The required quantity is P, the money you should invest in order to gain $1000.

$1000 = P * 0.045 * 1 year. Divide the rate by hundred to ease the calculation.
$22,222.222 = P

Stephanie, this is the smallest money that you should invest.  

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Michael Tadesse

Expertise

I can answer questions regarding Relations, linear functions and equations, Squares and square roots, Translation and Similarity, Special Properties of Right Angled Triangles, Measurement of Area and Volume, algebra. I can also answer questions related to Pre calculus, Limits and Continuity, Derivatives Applications of Derivatives, High school math in general. I can’t answer questions of the following type. Power Series, Multiple Integrals, Fourier series, Vector valued Functions.

Experience

I love mathematics as it is the mother of all sciences. I had an outstanding math results while I was in school. The tradition continues while I am in university. I have been helping elementary school Students for the past five years with mathematics problems. In fact, I have a brother who is four years younger than me I usually help him to understand what the crux of the question is before trying to solve it. He loves math very much, he is indeed one of the top scorers form his class in Mathematics. I didn’t stop helping my younger relatives after I joined the Engineering campus and I am more than ready to help anyone with my skill.

Education/Credentials
have a high school diploma with a 3.97 GPA; I also have many merit certificates granted for my outstanding results in high school math. I won a merit certificate for my participation in the Black Month Essay Contest. I took two different National Examinations in 2006 and 2007. In the former Exam I got 9As which includes Mathematics. I also have a score of 90 out of hundred in the later Examination which is the toughest known in Ethiopia. So you don’t have to worry about my ability to help my clients.

Past/Present Clients
I have never had an online client but I was helping students coming to me for assistance in Mathematics.

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