SOLUTION: John invested some money at 6% annual interest and three times as much at 8%. The total interest after one year was 660$. How much did he invest at each rate?
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Question 792818: John invested some money at 6% annual interest and three times as much at 8%. The total interest after one year was 660$. How much did he invest at each rate? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! John invested some money at 6% annual interest and three times as much at 8%. The total interest after one year was 660$. How much did he invest at each rate?
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Interest Equation: 0.06x + 0.08(3x) = 660
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6x + 24x = 66000
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30x = 66000
x = $2200 (amt. invested at 6%)
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3x = $6600 (amt. invested at 8%)
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Cheers,
Stan H.
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