SOLUTION: Phyllis invested $12,000, a portion earning a simple interest rate of 4 and 1/2% per year and the rest earning a rate of 4% per year. after one year and the total interest earned o
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Phyllis invested $12,000, a portion earning a simple interest rate of 4 and 1/2% per year and the rest earning a rate of 4% per year. after one year and the total interest earned o
Log On
Question 105110: Phyllis invested $12,000, a portion earning a simple interest rate of 4 and 1/2% per year and the rest earning a rate of 4% per year. after one year and the total interest earned on these investments was $525. how muchb money did she invest at each rate? Answer by elima(1433) (Show Source):
You can put this solution on YOUR website! Phyllis invested $12,000, a portion earning a simple interest rate of 4 and 1/2% per year and the rest earning a rate of 4% per year. after one year and the total interest earned on these investments was $525. how muchb money did she invest at each rate?
x=amount at %
12000-x=amount at 4%
=========================
.045x+.04(12000-x)=525
.045x+480-.04x=525
.005x=45
x=9000
=================
12000-9000=3000
===================
amount at %= $9000
amount at 4% = $3000
:)
(