SOLUTION: A total of $25,000 is invested in two funds paying 7% and 7.5% simple interest. The annual interest is $1830. How much is invested in each fund?

Question 992165: A total of $25,000 is invested in two funds paying 7% and 7.5% simple interest. The annual interest is $1830. How much is invested in each fund?
Answer by macston(5194) (Show Source): You can put this solution on YOUR website!
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x=amount at 7%; y=amount at 7.5%
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x+y=$25000
x=$25000-y
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0.07x+0.075y=$1830
0.07($25000-y)=0.075y=$1830
$1750-0.07y+0.075y=$1830
0.005y=$80
y=$16000
ANSWER 1: $16000 was in the 7.5% account.
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x=$25000-y=$25000-$16000=$9000
ANSWER 2: $9000 was in the 7% account.
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CHECK:
0.07x+0.075y=$1830
0.07($9000)+0.075($16000)=$1830
$630+$1200=$1830
$1830=$1830

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