SOLUTION: Eduardo has $8500.00 to invest. He invests 75% of his money in Fund A and 25% in Fund B. Fund A earns 3.5% simple interest annually, while Fund B earns 4.2% simple interest annuall

Algebra ->  Finance -> SOLUTION: Eduardo has $8500.00 to invest. He invests 75% of his money in Fund A and 25% in Fund B. Fund A earns 3.5% simple interest annually, while Fund B earns 4.2% simple interest annuall      Log On


   

Question 1164560: Eduardo has $8500.00 to invest. He invests 75% of his money in Fund A and 25% in Fund B. Fund A earns 3.5% simple interest annually, while Fund B earns 4.2% simple interest annually. After two years, how much money will Eduardo have?
Answer by ikleyn(52787) About Me  (Show Source):
You can put this solution on YOUR website!
.

     After two years, Ed will have  0.75*8500*(1+2*0.035) + 0.25*8500*(1+2*0.042) dollars.


You do all necessary arithmetic.

Solved.