Problema Solution
James has $1100 invested at r% and $900 invested at (r+1)%. If his annual income on these two investments is $99, find r.
Answer provided by our tutors
(r/100)*1100 + ((r + 1)/100)*900 = 99
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click here to see the equation solved for r
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r = 4.5%
r is 4.5%.