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22 December, 14:53

Paul has $70,000 to invest. His intent is to earn 15% interest on his investment. He can invest part of his money at 8% interest and part at 18% interest. How much does Paul need to invest in each option to make a total 15% return on his $70,000?

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  1. 22 December, 16:59
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    Let n be the part invested at 18%. Then:

    .18n+.06 (40000-n) =.15 (40000)

    .18n+2400-.06n=6000

    .12n=3600

    n=3600/.12=$30000 at 18%, $10000 at 6%!
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Home » Mathematics » Paul has $70,000 to invest. His intent is to earn 15% interest on his investment. He can invest part of his money at 8% interest and part at 18% interest. How much does Paul need to invest in each option to make a total 15% return on his $70,000?
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