SOLUTION: You had $50,000 to invest. the two funds you decided to invest in are the You-Risk-It Fund that yields 14% interest and the extra-dull fund that yields 6% interest. you earned $4,5

Question 438861: You had $50,000 to invest. the two funds you decided to invest in are the You-Risk-It Fund that yields 14% interest and the extra-dull fund that yields 6% interest. you earned $4,500 in interest income this year. How much did you invest in each fund?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
r+s=50000
.14r+.06s=4500
14r+6s=450000
6r+6s=300000
8r=150000
r=18750
s=31250
You invested $18750 in the You-Risk-It fund, and $31250 in the extra-dull fund..
RELATED QUESTIONS
you have $50,000 to invest and two funds that you'd like to invest in the you risk it... (answered by richwmiller)

You have P50,000 to invest, and two funds that you'd like to invest in. The You-Risk-It... (answered by ikleyn,greenestamps)

Mutual Funds Suppose that in a certain year, the Phoenix/Zweig Advisors Zweig Total... (answered by Theo)

Susan had $20,000 to invest. She decided to invest part of it in a high-risk bond that... (answered by mananth)

You plan to invest $25,000 in two funds paying 3% and 4 1/2% simple interest.(There is... (answered by stanbon)

You plan to invest $19,000 in two funds paying 3% and 4.5 simple interest. (There is... (answered by richwmiller)

suppose you invest $15,000 in two funds paying 11 1/2% and 14% simple interest. 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)

You have $30,000 to invest in two stock funds. The first fund pays 5% annual (answered by ikleyn,greenestamps)