Mathematics
simple math question

Question Description

Ms Feldman invested $10,000 for 1year. Part at 7% and part at 6.25%. if she earned a total interest of $656.50. How much was invested at each rate?

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Final Answer

x*(0.07)+(10000-x)*0.0625 = 656.5

x(0.07-0.0625)+625=656.5

x(0.0075) =656.5-625=31.5

x= 31.5/0.0075 =4200

$4200 invested in 7% and $5800 invested in 6.25%

Verification 4200*(0.07)+5800*(0.0625) = 656.5

madhavant (2757)
Boston College

Anonymous
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