SOLUTION: A sum of $2000 is split between two investments, one paying 7% interest and the other 8%. If the return on the 8% investment exceeds that of the 7% investment by $40 per year, how
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Question 161575: A sum of $2000 is split between two investments, one paying 7% interest and the other 8%. If the return on the 8% investment exceeds that of the 7% investment by $40 per year, how much is invested at each rate.
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested @ 7%
will be the amount invested @ 8%
$800 was invested @ 7% and $1200 was invested @ 8%
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