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March 30, 2017

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suppose you invest $15,000 in two funds paying 11 1/2% and 14% simple interest.
the total annual interest is $1950. how much is invested in each fund?

  • algebra - ,

    Let we invest $X in 1st fund, then
    0.115X+0.14(15000-X)=1950
    0.115X+2100-0.14X=1950
    150=0.025X
    X=6000

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