SOLUTION: Lenny received an inheritance. He invested part of it at 8% and six times that amount at 12%. The total first-year interest from the two investments was $1200. How much did he inve
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-> SOLUTION: Lenny received an inheritance. He invested part of it at 8% and six times that amount at 12%. The total first-year interest from the two investments was $1200. How much did he inve
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Question 662497: Lenny received an inheritance. He invested part of it at 8% and six times that amount at 12%. The total first-year interest from the two investments was $1200. How much did he invest at 12%? Answer by ReadingBoosters(3246) (Show Source):
You can put this solution on YOUR website! x = $ at 8%
y = $ at 12%
y=6x
.08x + .12y = 1200
.08x + .12(6x) = 1200
.08x + .72x = 1200
.8x = 1200
x = 1500
y=6(1500)=9000 invested at 12%
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