Would love the help. Phyllis invested 52000 dollars, a portion earning a simpleinterest rate of 4 percent per year and the rest earning arate of 7 percent per year. After one year the total interestearned on these investments was 2620 dollars. How muchmoney did she invest at each rate?At rate 4 percent :At rate 7 percent :

Given that, Phyllis invested = $52000, P=52000 for 1 year, T=1 some amount at 4%, R1=4% some amount…

Answered: Phyllis invested 52000 dollars, a…

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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Phyllis invested 52000 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 2620 dollars. How much money did she invest at each rate?