# SOLUTION: Kevin invested part of his \$10,000 bonus in a deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total int

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Kevin invested part of his \$10,000 bonus in a deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total int      Log On

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 Question 189824: Kevin invested part of his \$10,000 bonus in a deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total interest for that year was \$900, how much did Kevin invest in the mutual fund?Answer by jojo14344(1512)   (Show Source): You can put this solution on YOUR website! Let x= money in a deposit at 6% So, \$10,000 - x= money in a mutual fund at 11% If we add the two investment, we get \$900.00 total interest. It follows, Combine similar terms, ---> x = \$4,000.00, money in a deposit Then, \$10,000 - \$4,000 = \$6,000.00, money in a mutual fund Check, Thank you, Jojo