SOLUTION: a man invested $20,000 at annual interest rate of 7% and $12,000.00 at an annual interest rate of 7.5%. what was his annual income on the two investments?

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Question 210729: a man invested $20,000 at annual interest rate of 7% and $12,000.00 at an annual interest rate of 7.5%. what was his annual income on the two investments?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
a man invested $20,000 at annual interest rate of 7% and $12,000.00 at an annual interest rate of 7.5%. what was his annual income on the two investments?
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Equation:
interest + interest = interest
0.07(20,000)+ 0.075(12,000) = $2300
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Cheers,
Stan H.