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Ms. Smith has part of $1240 invested at 9% and the rest at 6.5%. If the annual
return from the two investments is the same, how much is invested at each
rate?

Respuesta :

Answer:

Step-by-step explanation:

Let x be the amount invested at 9%.

Then the amount invested at 6.5% is  1240-x  dollars.

From the condition, you have this equation

   0.09x = 0.065*(1240-x).

x=520

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