Concept explainers
To calculate:
The two annual interest rates if person earned
Answer to Problem 17P
The annual interest rate for the larger investment is
Explanation of Solution
Given information:
The Part of
Calculation:
Let, the interest obtained path in smaller investment is
Use the formula of the earning:
Where,
For first part:
For second part:
The person earned
Use the distributive property:
Add to
Then, subtract
Divide both the sides by
The interest rate for the smaller investments is
Put
The interest rate for the smaller investments is
The annual interest for the larger investment is
Chapter 1 Solutions
Algebra and Trigonometry: Structure and Method, Book 2
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