Question

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Answer 1

9514 1404 393

Answer:

• $3000 at 8%
• $4000 at 6%

Step-by-step explanation:

Let x represent the amount invested at 8%. Then the total interest earned is ...

  0.06(7000 -x) +0.08x = 480

  420 +0.02x = 480 . . . . . . . . . eliminate parentheses

  0.02x = 60 . . . . . . . . . . subtract 420

  x = 60/0.02 = 3000 . . . . . divide by the coefficient of x

$3000 was invested at 8%; $4000 was invested at 6%.