Math Problem Statement
You invested $12 comma 00012,000 in two accounts paying 3 %3% and 7 %7% annual interest, respectively. If the total interest earned for the year was $ 680 comma$680, how much was invested at each rate?
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
System of Linear Equations
Formulas
x + y = 12,000
0.03x + 0.07y = 680
Theorems
Substitution Method
Suitable Grade Level
Grades 9-11
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