To find: The amount invested at interest rate and interest rate 4%.
The amount invested at rate is $9000 and amount invested at 4% rate is $3000.
Phyllis invested a portion of $12,000 at a rate of and the remaining amount at rate of 4%.
The interest earned after 1 year is $525.
Let the amount invested at rate be x and the amount invested on 4% rate be .
Tabulate the given information into the language of algebra.
|In words||In Algebra|
|Amount invested at||x|
|Amount invested at 4%|
|Interest earned at||0.045x|
|Interest earned at 4%|
Model the equation for the above information.
Simplify the above equation for x,
The amount invested at 4% rate is,
Thus, the amount invested at rate is $9000 and amount invested at 4% rate is $3000.
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