document.write( "Question 189824: Kevin invested part of his $10,000 bonus in a deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total interest for that year was $900, how much did Kevin invest in the mutual fund? \n" ); document.write( "
Algebra.Com's Answer #142529 by jojo14344(1513)![]() ![]() ![]() You can put this solution on YOUR website! \n" ); document.write( " \n" ); document.write( "Let x= money in a deposit at 6% \n" ); document.write( "So, $10,000 - x= money in a mutual fund at 11%\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "If we add the two investment, we get $900.00 total interest. \n" ); document.write( "It follows,\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "Combine similar terms, \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "x = $4,000.00, money in a deposit\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Then, $10,000 - $4,000 = $6,000.00, money in a mutual fund\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Check, \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Thank you, \n" ); document.write( "Jojo\r \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |