SOLUTION: Carl invests $10000, partly in a secure GIC at 5% and the rest in a mutual fund that he thinks will earn 7.5%. If he expects to earn the same amount of interest in both, how much

Question 1085496: Carl invests $10000, partly in a secure GIC at 5% and the rest in a mutual fund that he thinks will earn 7.5%.
If he expects to earn the same amount of interest in both, how much did he invest at each rate?

Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!

and

Substituting,

Solve for B then use either equation to solve for A.

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