Investments Phyllis invested $12,000, a portion earning a sim-ple interest rate of 4% per year and the rest earning a rate of4% per year. After 1 year the total interest earned on these invest-ments was $525. How much money did she invest at each rate?

Return on capital computes how much amount business generates by using funds of capital providers.

Answered: Investments Phyllis invested $12,000, a…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Investments Phyllis invested $12,000, a portion earning a sim- ple interest rate of 4% per year and the rest earning a rate of 4% per year. After 1 year the total interest earned on these invest- ments was $525. How much money did she invest at each rate?