SOLUTION: a total of $4,500 is invested in two funds that pay 4% and 5% simple intrest. the annunal intrest is $210.00. how much is invested in the fund paying 4% interest?
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Question 224660: a total of $4,500 is invested in two funds that pay 4% and 5% simple intrest. the annunal intrest is $210.00. how much is invested in the fund paying 4% interest?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.05x+.04(4,500-x)=210
.05x+180-.04x=210
.01x=210-180
.01x=30
x=30/.01
x=3,000 amount invested @ 5%.
4,500-3,000=1,500 amount invested @ 4%.
Proof:
.05*3,000+.04*1,500=210
150+60=210
210=210
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