SOLUTION: larry mitchell invested part of his $33,000 advance at 2% annual simple interest and the rest at 9% annual simple interest. the yearly total from both was $1,010. Find the amount a
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-> SOLUTION: larry mitchell invested part of his $33,000 advance at 2% annual simple interest and the rest at 9% annual simple interest. the yearly total from both was $1,010. Find the amount a
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Question 1035820: larry mitchell invested part of his $33,000 advance at 2% annual simple interest and the rest at 9% annual simple interest. the yearly total from both was $1,010. Find the amount at each rate. Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! Let n= amount invested at 2%. Then
.02n+.09(33000-n)=1010
.02n+2970-.09n=1010
.07n=1960
n=1960/.07=28000 invested at 2%, 5000 invested at 9%!!!!!!!!!!!
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