Question
Asked Nov 18, 2019
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a total of $12,000 is invested in tow funds paying 9% and 11% simple interest.  if the yearly interest is $1180 how much of the $12, 000 is invested at each rate.

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Expert Answer

Step 1

Given, total invested amount, two interest rates and total yearly interest

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P $12000Total Invested amount r9%rate r11%rate I $1180Total interest t 1 year

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Step 2

Let us assume, x amount invests at 9% Simple Interest and rest amount invest at 11% Simple Interest.

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P =x = 9% and = 12000 -x 211%

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Step 3

So, the interest at amo...

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and SI SI, 100 100 SI SISI PxRxt PxR, xt SI 100 100 t=1 years] SI 100

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