SOLUTION: I have difficulty with little word problems like this, thanks for any help. A total of $12,000 is invested in two funds paying 9% and 11% simple interest. If the yearly interes

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Question 1060067: I have difficulty with little word problems like this, thanks for any help.
A total of $12,000 is invested in two funds paying 9% and 11% simple interest.
If the yearly interest is $1,180, how much of the $12,000 is invested at each
rate? (Simple interest is found by multiplying the amount invested by the rate)
   

Answer by Edwin McCravy(20060)   (Show Source): You can put this solution on YOUR website!
I have difficulty with little word problems like this, thanks for any help.
A total of $12,000 is invested in two funds paying 9% and 11% simple interest.
If the yearly interest is $1,180, how much of the $12,000 is invested at each
rate? (Simple interest is found by multiplying the amount invested by the rate)
   

            | Dollars|Rate as| Dollars|
            |Invested|decimal|Interest|
--------------------------------------|
First fund  |   x    | 0.09  |  0.09x |
Second fund |   y    | 0.11  |  0.11y |
--------------------------------------|
Totals      | 12000  |-------|   1180 |



Solve that system by substitution, and get

x = $7000, y = $5000

Edwin
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