# SOLUTION: Phyllis invested 39000 dollars, a portion earning a simple interest rate of 4 percent per year and the rest earning a rate of 6 percent per year. After one year the total interest

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 Question 502319: Phyllis invested 39000 dollars, a portion earning a simple interest rate of 4 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 1980 dollars. How much money did she invest at each rate? Answer by geetha_rama(64)   (Show Source): You can put this solution on YOUR website!Let X be the amount invested at 4% per year and 39000 - X be the amount at 6% per year. Total interest earned = 1980 Using simple interest formula, (X*4)/100 + (39000 -X)*6/100 = 1980 Diving by 2, (X*2)/100 + (39000-X) * 3/100 = 990 2X + 117000 - 3X = 99000 117000 - 99000 = X =>X = 18000 39000-X = 21000 Amount invested at 4% per year = \$18000 Amount invested at 6% per year = \$21000