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Phyllis invested $11,500, a portion earning a simple interest rate of 3 1/5% per year and the rest earning a rate of 3% per year.
Phyllis invested $11,500, a portion earning a simple interest rate of 3 1/5% per year and the rest earning a rate of 3% per year. After one year the total interest earned on these investments was $362.00. How much money did she invest at each rate?
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Economics
Authors: R. Glenn Hubbard
6th edition
978-0134797731, 134797736, 978-0134106243
