SOLUTION: A total of $4500 was invested, part of it at 6% interest and the remainder at 12%. If the total yearly interest amounted to $315, how much was invested at each rate?
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Question 404651: A total of $4500 was invested, part of it at 6% interest and the remainder at 12%. If the total yearly interest amounted to $315, how much was invested at each rate? Answer by subudear(62) (Show Source):
You can put this solution on YOUR website! Let x amount be at 6% then (4500 -x ) amount will be at 12%
so
(6/100)x + (12/100)(4500-x) = 315
6x + 12(4500-x) = 31500
6x + 54000 -12x = 31500
-6x = -22500
x = 3750
so 3750 amount was at 6% and 750 was given at 12% rate
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