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3.3 Exercise 27

Avg difficulty 2.5

Marco has $8,000 to save for his daughter’s college education. He wants to divide it between one account that pays 3.2% interest per year and another account that pays 8% interest per year. How much should he invest in each account if he wants the interest on the total investment to be 6.5%?

OpenStax Elementary Algebra 2e, 3.3 Solve Mixture Applications, exercise 27

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Adapted from Elementary Algebra 2e © 2020 Rice University. Licensed under CC BY 4.0. Source: Elementary Algebra 2e. Imported at revision 77a933c.