SOLUTION: okay, let's try this again; a man invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid

Question 21812: okay, let's try this again;
a man invested part of his $10,000 bonus in a certificate of 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 tht year was $800, how much did he invest in the mutual fund?
a) 5000
b) 4000
c) 6000
d) 3000
I messed up on the other submission with the answer choices...sorry.
Answer by rapaljer(4671) (Show Source): You can put this solution on YOUR website!
Let x = amount invested in the mutual fund at 11%
10000-x = amount invested in cd at 6%

.11x + .06(10000-x) = 800
.11x + 600 -.06x = 800
.05x +600 = 800
.05x = 200

x= $4000 at 11%
10000- 4000 = $6000 at 6%
The correct answwer is B)

Check:
.11(4000) + .06(6000)
$440+ $360
$800
It checks!

R^2 at SCC

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