Question
Phyllis invested 74000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 7 percent
Phyllis invested 74000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest earned on these investments was 4480 dollars. How much money did she invest at each rate?
At rate 5 percent : At rate 7 percent :
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
