SOLUTION: a total of 10000 is invested in two funds paying 5% and 7% annual intrest. The combined annual intrest is $630. how much of 10,000 is invested into each fund?
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Question 482232: a total of 10000 is invested in two funds paying 5% and 7% annual intrest. The combined annual intrest is $630. how much of 10,000 is invested into each fund?
Answer by mananth(16946) (Show Source): You can put this solution on YOUR website!
Investment I 5.00% per annum
Investment II 7.00% per annum
x + y 10000 ------------------------1
5.00% x + 7.00% y = $630.00
Multiply by 100
5 x + 7 y = $63,000.00 --------2
Multiply (1) by -5
we get
-5 x -5 y = -50000.00
Add this to (2)
0 x 2 y = $13,000.00
divide by 2
y = $6,500.00 investment at 7.00%
Balance $3,500.00 investment at 5.00%
CHECK
$3,500.00 $175.00
$6,500.00 $455.00
Total $630.00
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