SOLUTION: Charles Miller invested his textbook royalty income in two accounts, one paying 3% annual simple interest and the other paying 2% interest. He earned a total of $11 interest. If he
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Question 111736This question is from textbook Tenth Edition Beginning Algebra
: Charles Miller invested his textbook royalty income in two accounts, one paying 3% annual simple interest and the other paying 2% interest. He earned a total of $11 interest. If he invested three times as much in the 3% account as he did in the 2% account, how much did he invest at each rate?
This question is from textbook Tenth Edition Beginning Algebra
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.03*3X+.02X=11
.09X+.02X=11
.11=11
X=11/.11
X=100 INVESTED @ 2%
3*100=300 INVESTED @ 3%
PROOF.
.03*300+.02*100=11
9+2=11
11=11
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