SOLUTION: Lee invested some money at 18% interest per year and $3000 less than this at 20% interest per year. The total interest earned the first year was $3200. How much money was inves

SOLUTION: Lee invested some money at 18% interest per year and $3000 less than this at 20% interest per year. The total interest earned the first year was $3200. How much money was inves

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Question 850738:
Lee invested some money at 18% interest per year and $3000 less than this at 20% interest per year. The total interest earned the first year was $3200. How much money was invested at each rate?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
.18X+.20(X-3000)=3200
.18X+.20X-600=3200
.38X=3200+600
.38X=3800
X=3800/.38
X=10,000 AMOUNT INVESTED @ 18%.
10,000-3,000=7,000 AMOUNT INVESTED @ 20%
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