SOLUTION: If someone invests $3000 at 5% annual interest and $4000 at 6% annual interest, how much interest do they earn in one year? How many total dollars will they have at the end of the

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Question 53524: If someone invests $3000 at 5% annual interest and $4000 at 6% annual interest, how much interest do they earn in one year? How many total dollars will they have at the end of the year?
Answer by stanbon(48551) About Me  (Show Source):
You can put this solution on YOUR website!
If someone invests $3000 at 5% annual interest and $4000 at 6% annual interest, how much interest do they earn in one year? How many total dollars will they have at the end of the year?
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5% investment DATA:
Amount = 3000 ; Interest = 0.05(3000)= 150 dollars
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6% investment DATA:
Amount = 4000 ; Interest = 0.06(4000)= 240 dollars
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Total interest = interest + interest
Tatal = 150 + 240 = $390