SOLUTION: A man invests $20,000 at an annual interest rate of 7%, and $12,000.00 at an annual interest rate of 7.5%. What was his annual income on the two investments?
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Question 293118: A man invests $20,000 at an annual interest rate of 7%, and $12,000.00 at an annual interest rate of 7.5%. What was his annual income on the two investments?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
20,000*.07+12,000*.075
1,400+900=$2,300 ANS. FOR THE COMBINED INTEREST.
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