SOLUTION: If someone invests $3000 at 5% annual interest and $4000 at 6% annual interest, how much interest do they earn in one year? How many total dollars will they have at the end of the
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Question 53524: If someone invests $3000 at 5% annual interest and $4000 at 6% annual interest, how much interest do they earn in one year? How many total dollars will they have at the end of the year? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! If someone invests $3000 at 5% annual interest and $4000 at 6% annual interest, how much interest do they earn in one year? How many total dollars will they have at the end of the year?
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5% investment DATA:
Amount = 3000 ; Interest = 0.05(3000)= 150 dollars
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6% investment DATA:
Amount = 4000 ; Interest = 0.06(4000)= 240 dollars
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Total interest = interest + interest
Tatal = 150 + 240 = $390
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