SOLUTION: Tori invested $8000 in money market funds. Part was invested at 5% simple interest, and the rest was invested at 7% simple interest. At the end of 1 year. Tori had earned $496 in i

Question 266458: Tori invested $8000 in money market funds. Part was invested at 5% simple interest, and the rest was invested at 7% simple interest. At the end of 1 year. Tori had earned $496 in interest. How much did she invest in each fund?
Found 2 solutions by mananth, JBarnum:
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Tori invested $8000 in money market funds. Part was invested at 5% simple interest, and the rest was invested at 7% simple interest. At the end of 1 year. Tori had earned $496 in interest. How much did she invest in each fund?
Let the amount invested in 5% funds be x
Then 8000-x will be invested in 7% funds
5% ------------------------- 7%--------------------- interest
x-------------------------8000-x----------------------496
.05x+.07(8000-x)=496
0.05x+560-0.07x = 496
-0.02x=-560+496
-0.02x= -64
x= -64/-0.02
x=3200
He invests $3200 in 5% funds and and $4800 in 7% funds

Answer by JBarnum(2146) (Show Source): You can put this solution on YOUR website!
A+B=8000
.05A+.07B=496

investment at 7%
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investment at 5%
_________________
Check

correct

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