A person invests $7,500 part at 5% and the remainder at 4% simple interest. If the total interest at the end of the first year was $346.50, find the amount invested at 4%.
total interest=346.5=7500*.05 + x*.04
solve for x.
ooopsss, I misread the problem. The total amount invested was 7500..
total interest=346.5=(7500-x)*.05 + x*.04
solve for x.
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