Investment problems such as those in Exercises 75–80 can be solved by using a method similar to the one explained in Example 2, along with the simple-interest formula I = PRT.Solve each problem. Let T = 1year for each exercise.
Retirement Planning In planning her retirement, Mary Lynn Ellis deposits some money at 2.5% interest with twice as much deposited at 3%. Find the amount deposited at each rate if the total annual interest income is $850.
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