SOLUTION: A total of 10,000 is invested in two funds paying 5% and 7% annual intrest. the combined annual intrest is 644. how much of the 10,000 is invested in each fund. Please help i am re
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Question 396375: A total of 10,000 is invested in two funds paying 5% and 7% annual intrest. the combined annual intrest is 644. how much of the 10,000 is invested in each fund. Please help i am really confused on this problem. explain how its done
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
0.05x+0.07(10000-x)=644
0.05x+700-0.07x=644
-0.02x=-56
x=2800 at 5%
10000-2800=7200 at 7%
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