SOLUTION: Alex invest his summer earnings of $3050. He invest part of the money at 8%/year, and the rest at 7.5%/year. After 1 year, these investments earn 4242 in simple interest. How much
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Question 1095065: Alex invest his summer earnings of $3050. He invest part of the money at 8%/year, and the rest at 7.5%/year. After 1 year, these investments earn 4242 in simple interest. How much did he invest at each rate? Answer by greenestamps(13203) (Show Source):
You can put this solution on YOUR website! The numbers as I see them in your problem are inconsistent. If the two rates are 7.5% and 8% and the amount invested is $3050, then the total interest has to be somewhere around $280.
