SOLUTION: a totalk of $10,000 is invested in two funds paying 5% and 7% annual interest. the combined annual interest is $644. how much of the 10,000 is invested in each fund?
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-> SOLUTION: a totalk of $10,000 is invested in two funds paying 5% and 7% annual interest. the combined annual interest is $644. how much of the 10,000 is invested in each fund?
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Question 144853: a totalk of $10,000 is invested in two funds paying 5% and 7% annual interest. the combined annual interest is $644. how much of the 10,000 is invested in each fund? Answer by shahid(44) (Show Source):
You can put this solution on YOUR website! let $x be invested at 5% then $(10000-x) be invested at 7%
now interest on $x at 5% will be =
and interest on $(10000-x) =
according to condition
5x/100+7(10000-x)/100=644
(5x+70000-7x)/100=644
-2x=100(644)-70000
-2x=64400-70000
-2x=-5600
2x=5600
x=5600/2
x=2800 hence 2800 is invested on 5% and 7200 on 7%
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