SOLUTION: Two investments produce a total annual interest income of $201.00. If $1200 more was invested at 7% than at 6%,how much was invested at 6%? How much was invested at 7%?
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Question 275767: Two investments produce a total annual interest income of $201.00. If $1200 more was invested at 7% than at 6%,how much was invested at 6%? How much was invested at 7%? Answer by checkley77(12844) (Show Source):
You can put this solution on YOUR website! .07(X+1,200)+.06*X=201
.07X+84+.06X=201
.13X=201-84
.13X=117
X=117/.13
X=$900 AMOUNT INVESTED @ 6%.
900+1,200=$2,100 INVESTED @ 7%.
PROOF:
.07*2,100+.06*900=201
147+54=201
201=201
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