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March 25, 2017

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Scott invested a total of $9500 at two separate banks. One bank pays simple interest of 11% per year while the other pays simple interest at a rate of 9% per year. If Scott earned $973.00 in interest during a single year, how much did he deposit in each bank?

  • College alerbra - ,

    x = 11%
    y = 9%

    x + y = 9500
    11x + 9y = 97300

    x = 5900
    y = 3600

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