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October 21, 2014

Homework Help: algebra

Posted by lin on Saturday, October 6, 2012 at 8:51pm.

A total of $12,000 is invested in two funds paying 9% and 11% simple interest. If the yearly interest is $1,180, how much of the $12,000 is invested at each rate?
We have two unknowns: the amount of money invested at 9% and the amount of money invested at 11%.

Sentence (1) ''A total of $12,000 is invested in two funds paying 9% and 11% simple interest.'' can be restated as (The amount of money invested at 9%) (The amount of money invested at 11%) $12,000.

Sentence (2) ''If the yearly interest is $1,180, how much of the $12,000 is invested at each rate?'' can be restated as (The amount of money invested at 9%) 9% + (The amount of money invested at 11% 11%) total interest of $1,180.
In shortcut form: (1) x+y=$12000 (2) .09x+.11y=$1180

Principal of P dollars = P dollars* Rate in decimal * time in years
Can you show me how you get interest 0.09x on aPrincipal of x dollars?

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