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1 October, 16:03

7. A total of $12,000 was invested in two types of bonds. One pays 8% simple interest while the other

pays 10.5%. Last year, the annual interest earned on the two investments was $1,145. How much was

invested at each rate?

+2
Answers (2)
  1. 1 October, 18:13
    0
    Step-by-step explanation:

    add 8,000 with 3,000 and then add 1,145
  2. 1 October, 19:36
    0
    Step-by-step explanation:

    Let x = $ invested in 8% account

    y = $ invested in 10.5% account

    x + y = 12000

    0.08x + 0.105y = 1145

    $4600 invested in the 8% account

    and $7400 invested in the 10.5%

    account
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