The amount of money that Phyllis invested at each given rate of 4 and 6 percent is = $394.57 and $591.86 respectively.
<h3>Calculation of the total capital invested</h3>
The time the investment lasted= 12 years.
Simple interest = 1579.05 - 800= $779.05
The principal capital= $800
Rate of the both capital invested;
= SI × 100/P ×T
= 779.05 × 100/800 × 12
= 77,905/9600
= 8.11%
To find the amount of money that Phyllis invested at each given rate,
Rate 1 = 4/8.11× 800
= 3200/8.11
= $394.57
Rate 2 = 6/8.11× 800
= 4800/8.11
= $591.86
The amount of money that Phyllis invested at each given rate of 4 and 6 percent is = $394.57 and $591.86 respectively.
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