SOLUTION: An investing advisor put 75% of a client's money into a money market fund with a 9% annual simple interest rate. The remainder was put into government securities paying 6% annual b

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Question 1192361: An investing advisor put 75% of a client's money into a money market fund with a 9% annual simple interest rate. The remainder was put into government securities paying 6% annual basic interest. If the total yearly interest received is Php 3300, calculate the amount invested in each.
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52781)   (Show Source): You can put this solution on YOUR website!
.
An investing advisor put 75% of a client's money into a money market fund with a 9% annual simple interest rate.
The remainder was put into government securities paying 6% annual basic interest.
If the total yearly interest received is Php 3300, calculate the amount invested in each.
~~~~~~~~~~~~~~~ 

Let x be the total money invested amount.

Then 0.75x is invested at 9% and 0.25x is invested at 6%.


Write the total interest equation

    0.09*(0.75x) + 0.06*(0.25x) = 3300


From this equation find x

    x =  = 40000.


So, 0.75*40000 = Php 30000 was invested at 9% and the rest, Php 10000 was invested at 6%.    ANSWER


CHECK.  0.09*30000 + 0.06*10000 = 3300,  the total annual interest.   ! Correct !

Solved.



Answer by greenestamps(13200)   (Show Source): You can put this solution on YOUR website!


3/4 of the money is invested at 9% and 1/4 at 6%. The average percentage yield is then



The total interest on the total amount x was Php 3300:

(33/4)% of x = 3300
(33/400)x = 3300
x = 3300(400/33) = 400*100 = 40000

The total invested was Php 40,000.

ANSWERS:
amount invested at 9% = 3/4 of Php 40,000 = Php 30,000
amount invested at 6% = 1/4 of Php 40,000 = Php 10,000

CHECK: .09(30,000)+.06(10,000) = 2700+600 = 3300
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