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9 December, 22:20

A total of $60,000 was invested for one year. But of this amount earned simple annualinterest at the rate of x percent per year, and the rest earned simple annual interest at therate of y percent per year. If the total interest earned by the $60,000 for that year was$4,080, what is the value of x?

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  1. 10 December, 00:06
    0
    what is the value of x?

    X=6,8%

    Explanation:

    F = P (1 + i * n)

    FV=64080

    PV=60000

    N=1

    x=i%

    64080=60000+60000X

    4080=60000x

    X=0,068
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