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21 March, 20:58

Bernie has $16000 invested, part at 3% and the remainder at 5%. if the yearly interest on each investment is the same, how much interest does he receive each year?

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  1. 21 March, 22:14
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    (16000-x) * 3/100=x*5/100

    48000-3x/100=5x/100

    48000=8x

    x=6000

    6000*5/100=300
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