Michael Perez deposited a total of $2,000 with two savings institutions. One pays interest at a...

 

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Michael Perez deposited a total of $2,000 with two savings institutions. One pays interest at a rate of 5%/year, whereas the other pays interest at a rate of 7%/year. If Michael earned a total of $112 in interest during a single year, how much did he deposit in each institution? (Let x and y denote the amount of money, in dollars, invested at 5% and 7%, respectively.) = 112, = 2,000 Michael Perez deposited a total of $2,000 with two savings institutions. One pays interest at a rate of 5%/year, whereas the other pays interest at a rate of 7%/year. If Michael earned a total of $112 in interest during a single year, how much did he deposit in each institution? (Let x and y denote the amount of money, in dollars, invested at 5% and 7%, respectively.) = 112, = 2,000

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