Math Problem Statement
Charles invested $2000 in gold and a company working on prosthetics. Over the course of the investment, the gold earned a 1.8% annual return and the prosthetics earned 1.2%. If the total return after one year on the investment was $31.20, how much was invested in each? Assume simple interest.
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Linear Equations
Simple Interest
Formulas
Total Return = Interest Rate × Investment Amount
Theorems
-
Suitable Grade Level
Grades 8-10
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