Problema Solution
A business has $8600 invested at 12% and $7000 at 9.5% interest. How much interest is earned in one year?
Answer provided by our tutors
the interest earned from $8600 invested at 12% is: 0.12*8600
the interest earned from $7000 invested at 9.5% is: 0.095*7000
the total interest is the sum: 0.12*8600 + 0.095*7000 = $1,697