SOLUTION: You invested $10,000 in two funds paying 4% and 5% annual interest. At the end of year one, the interest from the 5% investment exceeded the interest from the 4% investment by $140
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Question 1084135: You invested $10,000 in two funds paying 4% and 5% annual interest. At the end of year one, the interest from the 5% investment exceeded the interest from the 4% investment by $140. How much money was invested at 5%? Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! 0.04x+0.05(10000-x) = (2*0.04x)+140
0.04x+500-0.05x = 0.08x+140
-0.09x = -360
x = 4000 so 4000 are invested at 4% and 10000-4000 = 6000 at 5%
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Check:
4000*0.04 = 160
6000*0.05 = 300
and 300-160 = 140 Correct
