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Math Help - Simple Interest problem

  1. #1
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    Simple Interest problem

    Please help me figure out this simple interest problem.

    "Part of a $16,000 inheritance was invested at 13% annual simple interest and the rest was invested at 7% annual simple interest. At the end of one year the interest earned by the two investments was equal. How much was invested at 7%?"

    Thank you for any help you can provide!!!!
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  2. #2
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    Re: Simple Interest problem

    let x = amount invested at 7%

    16000 - x = amount invested at 13%

    earned interest equal after 1 year ...

    (7)x = (13)(16000 - x)

    solve for x
    Thanks from mathematics123
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  3. #3
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    Re: Simple Interest problem

    Thank you very much Skeeter!! That makes sense.
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