Phyllis invested 52000 dollars, a portion earning a simple interest rate of 4 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest earned on these investments was 2620 dollars. How much money did she invest at each rate?

Phyllis invested 52000 dollars, a portion earning a simple interest rate of 4 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest earned on these investments was 2620 dollars. How much money did she invest at each rate?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.3: Solve Mixture Applications

Problem 3.66TI: has $8,000 to save for his daughter’s college education. He wants to divide it between one account...

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