Answer:
[tex]My~gain~in~that~year~was~\$176.5[/tex]
Step-by-step explanation:
[tex]Greetings![/tex]
[tex]I'm~Isabelle~Williams~and~will~be~answering~your~question![/tex]
[tex]I~have~\$1,500 ~in ~my ~investment~ account.~ Rate~ of~ interest ~for~ a\\ ~year~ in~ my ~investment~account = 8.5\$[/tex]
[tex]So,~ the~ amount~ of~ money~ I~ am ~making~ on ~my ~investment ~in ~a ~year:[/tex]
[tex]=\$\frac{1500\times 8.5}{100}[/tex]
[tex]=\$127.5[/tex]
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[tex]I ~owe~ \$ 1600 ~on~ a ~credit~ card .~ Rate ~of ~ interest ~a ~year ~on~ this~ credit\\ card ~debt, = 19 \%[/tex]
[tex]So,~ the~ money~ I~ am~ paying~ in~ interest ~in~ a~ year~ on~ my~ card~is:[/tex]
[tex]=\$\frac{1600\times 19}{100}[/tex]
[tex]=\$304[/tex]
______________________________________________________
[tex]Since, ~neither~ I ~withdraw ~money~ from ~my~ investment~ account ~ except~ the\\ ~interest~ nor~ I ~pay~ my~ whole ~credit~ card ~debt~ except ~the ~interest,~ so,~ my~ gain~\\ in~ that~ year:[/tex]
[tex]= \$ (127.5 - 304)[/tex]
[tex]=\$176.5[/tex]
[tex]Hope~my~answer~helps!~Have~an~amazing~day~ahead![/tex]
[tex]-Isabelle~Williams[/tex]
