SOLUTION: A total of $10,000 is ivested into two funds paying 15/2% and 9%simple interest. The combined annual income for the two funds is $849. Determine how much is invested at each rate
Algebra.Com
Question 825906: A total of $10,000 is ivested into two funds paying 15/2% and 9%simple interest. The combined annual income for the two funds is $849. Determine how much is invested at each rate
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A total of $10,000 is ivested into two funds paying 15/2% and 9%simple interest. The combined annual income for the two funds is $849. Determine how much is invested at each rate
-------
Quantity: s + n = 10,000
Interest:0.075s + 0.09n = 849
-----
Modify for elimination:
9s + 9n = 90000
7.5s+9n = 84900
------
Subtract and solve for "s":
1.5s = 5100
s = $3400 (amount invested at 7.5%)
-----
n = $6600 (amount invested at 9%)
============
Cheers,
Stan H.
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 15000 is invested in two funds paying 4%and 5% simple interest. the annual... (answered by mananth)
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)
A total of $10000 is invested in two funds paying 5% and 7% annual interest. The combined (answered by checkley75)
A total of $10,000 is invested in two funds paying 5% and 7% annual interest. The... (answered by checkley71)
A total of $10,000 is invested in two funds paying 5% and 7% annual interest. The... (answered by mananth)