document.write( "Question 904280: kevin invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% simple interest. If his total interest for the year was $900.00, how much did kevin invest in the mutual fund? \n" ); document.write( "

Algebra.Com's Answer #548608 by richwmiller(17219) $\"\"$ $\"About$

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We know the total amount of money invested. $10000
\n" ); document.write( "x+y=10000,
\n" ); document.write( "We know that the total interest for the year for the two accounts is $900
\n" ); document.write( "0.06*x+0.11*y=900
\n" ); document.write( "x=10000-y
\n" ); document.write( "We substitute for x
\n" ); document.write( "0.06*(10000-y)+0.11*y=900
\n" ); document.write( "We multiply out
\n" ); document.write( "600-0.06y+0.11*y=900
\n" ); document.write( "We combine like terms.
\n" ); document.write( "0.05*y=300
\n" ); document.write( "Isolate y
\n" ); document.write( "y=6000 at 11%
\n" ); document.write( "x=10000-y
\n" ); document.write( "Calculate x
\n" ); document.write( "x=4000 at 6%
\n" ); document.write( "We check
\n" ); document.write( "0.06*4000+0.11*6000=900
\n" ); document.write( "240+660=900
\n" ); document.write( "900=900
\n" ); document.write( "Since this statement is TRUE and neither amount is negative then it is ok
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