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Amount of money invested at different interest rates

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Jane invested some amount at the rate of 12% simple interest and some other amount at the rate of 10% simple interest. She recieves yearly interest of $130.00. Randy also invested in the same scheme, but he interchanged the amounts invested and recieved $4.00 more as interest. How much amount did each of the invest at different rates?

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Solution Summary

The solutions shows how to set up and solve the system of linear equations to find the amount money Jane and Randy invested at two different interest rates, respectively.

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