Phyllis invested 50000 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 2900 dollars. How much money did she invest at each rate? At rate 4 percent : At rate 7 percent :

Phyllis invested 50000 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 2900 dollars. How much money did she invest at each rate? At rate 4 percent : At rate 7 percent :

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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