SOLUTION: a total of 15000 is invested in two funds paying 4%and 5% simple interest. the annual interest is $700. how much is invested in each fund?
Algebra.Com
Question 356692: a total of 15000 is invested in two funds paying 4%and 5% simple interest. the annual interest is $700. how much is invested in each fund?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
total investment = $15000
4% --------------- $x
5%-----------------$15000-x
..
interest = $700
...
0.04x+0.05(15000-x)=700
0.04x+750-0.05x=700
-0.01x=-50
x= -50/-0.01
x= 5000 at 4%
balance 10000 at 5%
...
m.ananth@hotmail.ca
RELATED QUESTIONS
A total of $80,000 is invested in two funds paying 2.3% and 3.1 % simple interest. The... (answered by stanbon)
A total of $50,000 is invested in two funds paying 8% and 8.5% simple interest. The... (answered by Mathtut,checkley77,solver91311)
A total of $25,000 is invested in two funds paying 3% and 3.5% simple interest. The... (answered by ewatrrr)
A total of $25,000 is invested in two funds paying 6% and 6.5% simple interest. The... (answered by richwmiller)
A total of $25,000 is invested in two funds paying 7% and 7.5% simple interest. The... (answered by macston)
You invest $12,000 in two funds paying 5.5% and 7.5% simple interest. The total annual... (answered by checkley71)
suppose you invest $15,000 in two funds paying 11 1/2% and 14% simple interest. the... (answered by mananth)
A total of $10,000 is invested in two funds paying 5% and 9% simple interest. If the... (answered by mananth)
You invest $40,000 in two funds paying 3% and 4 1/2% simple interest. The total annual... (answered by stanbon)