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31 January, 14:24

Jack invests $500 at a certain annual interest rate, and he invests another $2000 at an annual rate that is one-half percent higher. if he receives a total of $85 interest in 1 year, at what rate is the $500 invested?

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  1. 31 January, 16:28
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    1000x + 2000 (x+.005) = 190

    x = 6%
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