SOLUTION: here's the question... I invested $10,000 bonus in a CD that paid 6% simple interest and the rest in a mutual fund that paid @ 11%. If total interest earned that year was $700.00.
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-> SOLUTION: here's the question... I invested $10,000 bonus in a CD that paid 6% simple interest and the rest in a mutual fund that paid @ 11%. If total interest earned that year was $700.00.
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Question 98602This question is from textbook intro alg blitzer
: here's the question... I invested $10,000 bonus in a CD that paid 6% simple interest and the rest in a mutual fund that paid @ 11%. If total interest earned that year was $700.00. how much did I invest in the mutual fund?
0.06x + 0.11(10,000-x)=$700
0.06x+1100-0.11x=$700
-0.11x
-0.05x +1100-1100=700-1000
-0.05x = -300
divided and came up with $6000.00
$10,000-6000= $4000 @ 11%
is this correct? This question is from textbook intro alg blitzer
You can put this solution on YOUR website! YOUR MISTAKE IS YOU SUBTRACTED 1100 FROM THE LEFT SIDE & ONLY SUBTRATED 1000 FROM THE RIGHT SIDE OF THE EQUATION.
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.11X+.06(10000-X)=700
.11X+600-.06X=700
.05X=700-600
.05X=100
X=100/.05
X=2000 INVESTED @ 11%
10000-2000=8000 INVESTED @ 6%
PROOF
.11*2000+.06*8000=700
220+480=700
700=700
You can put this solution on YOUR website! I invested $10,000 bonus in a CD that paid 6% simple interest and the rest in a mutual fund that paid @ 11%. If total interest earned that year was $700.00. how much did I invest in the mutual fund?
0.06x + 0.11(10,000-x)=$700
0.06x+1100-0.11x=$700
-0.11x
-0.05x +1100-1100=700-11000
-0.05x = -400
divided and came up with $8000.00 (amount invested at 6%)
$10,000-8000= $2000 (amount invested at 11%)
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Note: You can always check your own answers.
You could have checked 0.06*6000 + 0.11*4000 and found
you did not get 700. That would tell you to look
over your work again.
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Cheers
Stan H.
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