SOLUTION: Could you lay this problem out for me: A professional athlete deposited an amount of money into a high-yield fund that erns 13% annual simple interest. A second deposit, $2500 m
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Question 856627: Could you lay this problem out for me: A professional athlete deposited an amount of money into a high-yield fund that erns 13% annual simple interest. A second deposit, $2500 more than the first, was placed in a CD earning 7% annual interest. The total interest earned in one year was $475. How much was invested in the mutual fund? Answer by Fombitz(32388) (Show Source):
You can put this solution on YOUR website! Let the amount at 13% be A, 7% B.
Substitute from the first equation for B and then solve for A.
Then go back and solve for B.
