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    Working with rate of interests

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    Invest a total of $4000 in 2 stocks that paid 5% and 7% annual interests. At the end of the year total interests from these investments is $230. How much was invested at each rate?

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    Solution Preview

    We will prepare two equations from the given data,

    Let the amounts be x and y

    they add up to 4000$, that is x + y = ...

    Solution Summary

    Very detail answer with easy to understand steps. It will enable you to do similar problems yourself.