You're really good at investing and you have $1,500 in your investment account. you make 8.5% interest a year on your investment account! for a year you owe $1,600 on a credit card. you pay 19% interest a year on this credit card debt.

You're really good at investing and you have $1,500 in your investment account.You make 8.5% interest a year on your investment account!For a year you owe $1,600 on a credit card.You pay 19% interest a year on this credit card debt.

How much money are you making on your investment in a year?

1. How much are you making on your investment

2. How much money are you paying in interest in a year on your card?

3. What's your total gain/loss that year? Enter a negative value for a loss.

Step-by-step explanation:

Investment Capital = $1,500

Interest rate 8.5%

Amount owe on credit card for one year is $1,600

Interest paid on debit card debit is 19%

a. Profit make from investment

Profit=interest rate×Capital invested

Profit = 8.5% of 1500

Profit = 8.5/100 × 1500

Profit = $127.5

b. Amount paid from card debit

Amount paid= debit rate × Amount owe

Amount paid = 19% of 1600

Amount paid = 19/100 × 1600

Amount paid = $304

c. Gain/loss = Profit - expenses

Gain/loss = 127.5 — 304

Gain/loss = —$176.5

The negative sign is showing that it is a loss

Then, the loss is $176.5

step-by-step explanation:

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