SOLUTION: Phyllis invested 55000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 6 percent per year. After one year the total intere
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Question 1000268: Phyllis invested 55000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 6 percent per year. After one year the total interest earned on these investments was 3090 dollars. How much money did she invest at each rate?
Answer by CountrySLP(2) (Show Source): You can put this solution on YOUR website!
--Substitute Y in terms of X
--Expand the 2nd expression
--Compress the expression pulling out X
--Compute Y from X
--Verify the answer
**Correct!
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