SOLUTION: You have $6,000 to invest into two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual interest. If after a year you have made $380 in interes
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Question 1110503: You have $6,000 to invest into two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual interest. If after a year you have made $380 in interest, how much money did you invest in each account? Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! x in the first
6000-x in the second
.05x+.09(6000-x)=380
.05x+540-.09x=380
-0.04x=-160
x=$4000 @ 5% is $200 ANSWER
6000-x=$2000 @9%=$180 ANSWER
