Question 201840: Anthony invested a certain amount of money into a savings account, and invested 3 times that amount into a mutual fund. Of after one year the savings account earned 5% interest and the mutual fund earned 11% interest, and the total interest earned from the two investments was $152, how much did Anthony initially invest in each? To earn credit, You must contruct an algebrais equation with a variable and solve using algebra steps.
Answer by rfer(16322)   (Show Source):
You can put this solution on YOUR website! x=savings
3x=mutual fund
----------------
.05x+.11(3x)=152
.05x+.33x=152
.38x=152
x=$400 invested in savings
3x=$1200 invested in mutual fund
savings interest=$20
mutual fund interest=$132
|
|
|
