document.write( "Question 283771: 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% 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 #854227 by josgarithmetic(39823) ![]() You can put this solution on YOUR website! 10000 dollars invested at 6% and 11%, one year. \n" ); document.write( "Total interest was 900 dollars the year. \n" ); document.write( "How much invested at 11%?\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "P=10000 \n" ); document.write( "L=0.06 \n" ); document.write( "H=0.11 \n" ); document.write( "R=900 \n" ); document.write( "y= variable, how much at 11% \n" ); document.write( "P-y = how much at 6%\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Accounting for the one year earned interest \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Substituting the values \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( " |