Question 1135652: Anna invested a total of $10,000 in Funds A and B. The amount in Fund A earned an interest of 4% per annum and the amount in Fund B earned an interest of 5% per annum. If the total interest earned from both these funds at the end of one year was $470, how much did she invest in each fund?
Found 2 solutions by ikleyn, greenestamps:
Answer by ikleyn(52777)   (Show Source):
You can put this solution on YOUR website! .
There is a lesson in this site explaining on how to solve similar problems on investments
- Using systems of equations to solve problems on investment
All typical versions of such problem are covered there, among with all basic algebra methods of their solutions.
If you want to learn this subject, take it from this lesson. You then will be able to easily solve them on your own.
Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.
The referred lesson is the part of this online textbook under the topic "Systems of two linear equations in two unknowns".
In this topic, you will find tons of typical word problems to solve with the use of systems of linear equations.
Save the link to this online textbook together with its description
Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson
to your archive and use it when it is needed.
Answer by greenestamps(13198)  (Show Source):
You can put this solution on YOUR website!
Here is a quick and easy alternative to the traditional algebraic method for solving mixture problems like this.
(1) $470 interest on $10,000 is an interest rate of 4.7%.
(2) 4.7% is 7/10 of the way from 4% to 5%. (It might help you see what that says if you think of the three percentages on a number line.)
(3) Therefore, 7/10 of the $10,000, or $7,000, was invested at the higher rate.
ANSWER: $7000 at 5%; $3000 at 4%.
CHECK: .05(7000)+.04(3000) = 350+120 = 470
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