Set Up an Equation and Solve the Following Problem

question 161

Short Answer

Set up an equation and solve the following problem. A sum of $6,600 is invested, part of it at 8% interest and the remainder at 17%. If the interest earned by the 8% investment is $160 less than the interest earned by the 17% investment, find the amount invested at 8% rate. $ __________

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Definitions:

Economic Instability

A state characterized by significant fluctuations in economic activities such as employment, production, and prices, often leading to uncertainty.

Federal Reserve

The central banking system of the United States, responsible for monetary policy.

President and Congress

The branches of the United States government responsible for executing and creating laws, respectively, that govern the country.

American People

Citizens or residents of the United States of America.