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.

Step 1

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

Step 2

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

Step 3

So, the interest at amo...

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