SOLUTION: A sum of money invested at an annual interest rate of 9% earns $1080 interest for the year. Twice this sum is invested at a yearly rate 9 1/2 earns $2280 for the year. How much i
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Question 796911: A sum of money invested at an annual interest rate of 9% earns $1080 interest for the year. Twice this sum is invested at a yearly rate 9 1/2 earns $2280 for the year. How much is invested at each rate?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
1080/0.09=$12,000
2280/0.095=$24,000
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