SOLUTION: In one year, Cholena Youngblood earned the same amount of interest from an investment at 8%annual interest as an investment at 12% percent annual interest.She had invested $1500 mo
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Question 53066: In one year, Cholena Youngblood earned the same amount of interest from an investment at 8%annual interest as an investment at 12% percent annual interest.She had invested $1500 more at 8%.How much money did she invest at 12%. Answer by ankor@dixie-net.com(22740) (Show Source):
You can put this solution on YOUR website! In one year, Cholena Youngblood earned the same amount of interest from an investment at 8% annual interest as an investment at 12% percent annual interest. She had invested $1500 more at 8%.How much money did she invest at 12%.
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Let x = amt invested 12%
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Then [x+1500] = amt invested at 8%
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The problems states:
8% int = 12% int
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.12* x = .08*(x + 1500)
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.12x = .08x + 120
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.12x - .08x = 120
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.04x = 120
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x = 120/.04
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x = $3000 invested at 12%
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amt invested at 8%: 3000 + 1500 = $4500
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Check: .12(3000) = .08(4500)
