document.write( "Question 993962: To help pay for his child's college education, a father invests $10,000 in two separate investments: part in a certificate of deposit paying 8.5% annual interest, the rest in a mutual fund paying 7%. The annual income on the certificate of deposit is $200 more than the annual income on the mutual fund. How much is invested in the mutual fund? \n" ); document.write( "

Algebra.Com's Answer #613163 by stanbon(75887) $\"\"$ $\"About$

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To help pay for his child's college education, a father invests $10,000 in two separate investments: part in a certificate of deposit paying 8.5% annual interest, the rest in a mutual fund paying 7%. The annual income on the certificate of deposit is $200 more than the annual income on the mutual fund. How much is invested in the mutual fund?
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\n" ); document.write( "Equations:
\n" ); document.write( "Quantity:: c + f = 10000
\n" ); document.write( "interest:: 0.085c - 0.07f = 200
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\n" ); document.write( "Modify for elimination::
\n" ); document.write( "85c + 85f = 85*10000
\n" ); document.write( "85c + 70f = 200000
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\n" ); document.write( "Solve for \"f\"
\n" ); document.write( "15f = 650000
\n" ); document.write( "f = $4333.33 (amt. invested in the mutual fund)
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
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