contestada

he annual interest on a $9000 investment exceeds the interest earned on a $1000 investment by $534. The $9000 is invested at a 0.6% higher rate of interest than the $1000. What is the interest rate of each investment?

Respuesta :

Answer:

The interest on investment of $9000 and $1000 is 5.41 % and 4.81% respectively.

Explanation:

Let i be the interest rate on $ 9000 investment, then

9000i + 1000(i -0.006) = $ 535

10,000i = 541

i = 5.41 % on investment of $ 9000.

than on  $1000 investment interest = 5.41-0.6 = 4.81 %

Answer:

5.41 % and 4.81%

Explanation: