SOLUTION: A total of $50,000 is invested in two funds paying 5% and 6% annual interest. The annual interest is $2,800. Find how much of the $50,000 is invested in each fund?

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Question 208226: A total of $50,000 is invested in two funds paying 5% and 6% annual interest. The annual interest is $2,800. Find how much of the $50,000 is invested in each fund?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.06x+.05(50,000-x)=2,800
.06x+2,500-.05x=2,800
.01x=2,800-2,500
.01x=300
x=300/.01
x=30,000 invested @ 6%
50,000-30,000=20,000 invested @ 5%
Proof:
.06*30,000+.05*20,000=2,800
1,800+1,000=2,800
2,800=2,800