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March 27, 2017

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Sam invested $7000, part at 7% and the rest at 11%. If his total return for one year was $690, how much was invested at each rate?

  • Algebra 2 - ,

    X * 0.07 + (7000-X) * 0.11 = 690

    0.07X + 770 - 0.11X = 690

    0.04X = 80

    X = 2000 @ 7%

    5000 @ 11%

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