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March 27, 2017

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I invested $3,000, part at 2% and the rest at 5% simple interest. After 1 year, I earned a total of $117 in interest. How much did I invest at each rate?

  • Pre Algerbra - ,

    just add up the interest. With $x at 2%,

    .02x + .05(3000-x) = 117
    x = 1100

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