SOLUTION: Larry Mitchell invested part of his $38,000 advance at 6% annual simple interest and the rest at 2% annual simple interest. If this total yearly interest from both accounts was $88
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-> SOLUTION: Larry Mitchell invested part of his $38,000 advance at 6% annual simple interest and the rest at 2% annual simple interest. If this total yearly interest from both accounts was $88
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Question 1129424: Larry Mitchell invested part of his $38,000 advance at 6% annual simple interest and the rest at 2% annual simple interest. If this total yearly interest from both accounts was $880 find the amount incested at each rate.
The amount invested at 6% is $ ?
The amount invested at 2% is $ ? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Let = amount invested @ 6% = amount invested @ 2%
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and
@ 6%
$3,000
@2%
$35,000
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check:
OK
