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Math

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Larry has an annual return of $213.00 from $3000.00 invested at simple interest. One at 5% and the other at 8%. How much is invested at each rate. (Hint, Interest earned = amount invested x rate of interest.)

  • Math - ,

    .05x + .08(3000-x) = 213.00
    x=900

    so, $900 at 5% and $2100 at 7%

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