SOLUTION: larry mitchell invested part of his 13,000 advance at 6% annual simple interest and the rest at 2% annual simple interest. if his total yearly interest from both accounts was $1500
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Question 909526: larry mitchell invested part of his 13,000 advance at 6% annual simple interest and the rest at 2% annual simple interest. if his total yearly interest from both accounts was $1500, find the amount invested at each rate
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
Not possible!
Even if all $13,000 were invested at 6% he would NOT earn $1500
.06*13000=780
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