What is the interest rate of each investment if the annual interest on a $17,000 investment exceeds the interest earned on an $8000 investment by $276. the $17,000 is invested at a 0.3% higher rate of interest than the $8000?

Solution-

Let's assume, the rate of interest of $8000 is x%,

then the rate of interest of $17000 is (x+0.3x) =1.3x%

Interest earned by $8000,

Interest earned by $17,000,

According to the question,

∴ Rate of interest of $8000 is 1.96% and rate of interest of $17000 is (1.3×1.96) =2.55%

each side has a different length.  

step-by-step explanation:

he will have 300 because he is really broke and 300 is in his imangine

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