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Problem 1263

$$\$ 10,000$$ is to be invested for one year. A part of the $$\$ 10,000$$ is invested at \(6 \%\) and the remainder at \(7 \%\). The income from the $$\$ 10,000$$ is $$\$ 640$$ per year. Find the amount invested at each rate.

Expert verified

The amount invested at 6% is $$\$ 6,000$$ and the amount invested at 7% is $$\$ 4,000$$.

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Chapter 46

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