James had his financial advisor invest $8500, part at 4% simple interest and the rest at 3.5% interest. At the end of a year he had earned $322.25 in interest. How much did he invest at each rate? I=Prt

James had his financial advisor invest $8500, part at 4% simple interest and the rest at 3.5% interest. At the end of a year he had earned $322.25 in interest. How much did he invest at each rate? I=Prt

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter2: Equations And Inequalities

Section2.3: Models And Applications

Problem 23SE: Paul has $20,000 to invest. His intent is to earn11% interest on his investment. He can invest part...

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