28000 was lent out at 6% per annum and another sum was lent out at 8% per annum. After 8
years, the total interest received was 16080. Find the second sum.
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Step-by-step explanation:
ANSWER
A=P(1+it)
50,000=46,875(1×i×1
12
8
)
i=0.04; rate =4%
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