SOLUTION: The annual interest on a $9000 investment exceeds the interest earned on an $8000 investment by $47. The $9000 is invested at a 0.3% higher rate of interest than the $8000. What is

Question 1045280: The annual interest on a $9000 investment exceeds the interest earned on an $8000 investment by $47. The $9000 is invested at a 0.3% higher rate of interest than the $8000. What is the interest rate of each investment?
Found 2 solutions by advanced_Learner, MathTherapy:
Answer by advanced_Learner(501) (Show Source): You can put this solution on YOUR website!
9000a-8000b=47
(a)-b=0.3%
can you solve from now on.......
Answer by MathTherapy(10549) (Show Source): You can put this solution on YOUR website!

The annual interest on a $9000 investment exceeds the interest earned on an $8000 investment by $47. The $9000 is invested at a 0.3% higher rate of interest than the $8000. What is the interest rate of each investment?

Interest rate on
Interest rate on
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