SOLUTION: An amount of money is invested at 4% annual simple interest, and twice that amount is invested at 5%. The total annual interest is $112. How much is invested at each rate?
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Question 155354: An amount of money is invested at 4% annual simple interest, and twice that amount is invested at 5%. The total annual interest is $112. How much is invested at each rate? Answer by checkley77(12844) (Show Source):
You can put this solution on YOUR website! .04X+.05*2X=112
.04X+.10X=112
.14X=112
.14X=112
X=112/.14
X=800 INVESTED @ 4%
2*800=1,600 INVESTED @5%
PROOF:
.04*800+.05*1,600=112
32+80=112
112=112
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