SOLUTION: Eva invested a certain amount of money at 8% interest and $1600 more than that amount at 12%. Her total yearly interest was $845. How much did she invest at each rate?
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Question 765804: Eva invested a certain amount of money at 8% interest and $1600 more than that amount at 12%. Her total yearly interest was $845. How much did she invest at each rate? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Eva invested a certain amount of money at 8% interest and $1600 more than that amount at 12%. Her total yearly interest was $845. How much did she invest at each rate?
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Interest Equation:
0.08x + 0.12(x+1600) = 845
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8x + 12x + 12*1600 = 84500
20x = 65300
x = 3265 dollars (amt. invested at 8%)
x+1600 = 4865 dollars (amt. invested at 12%)
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Cheers,
Stan H.
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