Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Answer the following simple interest problem using the provided formula ONLY. Show your complete solution.
2. Clara has invested 10,000.00 pesos, part at 5% and the remainder at 10% simple interest. How much is invested at higher rate if the total annual interest from this investment is 950.00 pesos?
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