SOLUTION: A broker has invested part of $25000.00 at 10.5% and the rest at 12.5% simple interest. If the annual income earned from both investments is $2843.75, find the amount invested at e

SOLUTION: A broker has invested part of $25000.00 at 10.5% and the rest at 12.5% simple interest. If the annual income earned from both investments is $2843.75, find the amount invested at e

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Question 96892: A broker has invested part of $25000.00 at 10.5% and the rest at 12.5% simple interest. If the annual income earned from both investments is $2843.75, find the amount invested at each rate.

This is not from a text book, this was a handed out assignment.
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
x(12.5%)+(25000-x)(10.5%)=2843.75 ... .125x+2625-.105x=2843.75 ... .02x=218.75 ... x=10937.50 ... 25000-x=14062.50
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