SOLUTION: Phyllis invested $13,500, a portion earning a simple interest rate of
4 1/2% per year and the rest earning a rate of 4% per year. After 1 year the total interest earned on these
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Phyllis invested $13,500, a portion earning a simple interest rate of
4 1/2% per year and the rest earning a rate of 4% per year. After 1 year the total interest earned on these
Log On
Question 1141073: Phyllis invested $13,500, a portion earning a simple interest rate of
4 1/2% per year and the rest earning a rate of 4% per year. After 1 year the total interest earned on these investments was $585. How much money did she invest at each rate?
$______at 4 1/2%
$______at 4% Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = Amt invested @ % = Amt invested @ %
Let = interest earned @ % = interest earned @ %
--------------------------------------------------
(1)
(2)
-----------------------------------------------
(2)
(2)
(2)
and
------------------------------------
$9,000 @ 4.5%
$4,500 @ 4%
----------------------
check:
and
OK
