SOLUTION: Let x=rate invested at 5%.
Then the rate invested at 2% is 25,000-x
You have: 0.05x+0.02(25,000-x)=980
0.05x+500-0.02x=980
0.03x+500=980
0.03x=480
x=16000
$16,00
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-> SOLUTION: Let x=rate invested at 5%.
Then the rate invested at 2% is 25,000-x
You have: 0.05x+0.02(25,000-x)=980
0.05x+500-0.02x=980
0.03x+500=980
0.03x=480
x=16000
$16,00
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Question 71193: Let x=rate invested at 5%.
Then the rate invested at 2% is 25,000-x
You have: 0.05x+0.02(25,000-x)=980
0.05x+500-0.02x=980
0.03x+500=980
0.03x=480
x=16000
$16,000 was invested at 5% and 9,000 at 2%. Answer by galactus(183) (Show Source):
