SOLUTION: george set up a trust fund for their children part of its earning 7% simple interest per year while the rest of his earning 4% simple interest per year . he placed $4000.00 in the

Question 1032562: george set up a trust fund for their children part of its earning 7% simple interest per year while the rest of his earning 4% simple interest per year . he placed $4000.00 in the trust fund . in one year the trust fund has earned $220.00 how much did they invest at each interest rate ?
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
Let x=amount invested at 7%; then the amount invested at 4% can be represented by 4000-x. Thus:
.07x+.04(4000-x)=220
160+.03x=220
.03x=60
x=60/.03=$2000
4000-x=$2000
$2000 was invested in both accounts!!!!!!!!
RELATED QUESTIONS
parents set up a trust fund for their children last year. part of it is earning 7% simple (answered by macston)

Parents set up a trust fund for their children last year. Part of it is 8% simple... (answered by richwmiller)

George had $4,500 in a savings account earning simple interest at a rate of 2.5% per... (answered by josmiceli)

roland inherited a certain amount of money from his grandfather. he invested part of it... (answered by Boreal)

David had $4000 invested for one fourth of a year ar a simple interest rate of 6.1%. how (answered by rfer)

Rachel Rays has a total of $4,500 to invest for 1 year. She Deposits $3,000 into an... (answered by richwmiller)

4. A client has asked for your advice on setting up two university education trust funds... (answered by Boreal,MathTherapy)

Katie invested $6000, a portion earning a simple interest rate of 3.25% per year and the... (answered by nerdybill)

Vern sold his 1964 Ford Mustang for $55,000 and wants to invest the money to earn him... (answered by greenestamps,ikleyn)