SOLUTION: george set up a trust fund for their children part of its earning 7% simple interest per year while the rest of his earning 4% simple interest per year . he placed $4000.00 in the
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Question 1032562: george set up a trust fund for their children part of its earning 7% simple interest per year while the rest of his earning 4% simple interest per year . he placed $4000.00 in the trust fund . in one year the trust fund has earned $220.00 how much did they invest at each interest rate ? Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let x=amount invested at 7%; then the amount invested at 4% can be represented by 4000-x. Thus:
.07x+.04(4000-x)=220
160+.03x=220
.03x=60
x=60/.03=$2000
4000-x=$2000
$2000 was invested in both accounts!!!!!!!!
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