Question 248124: I invested part of my 10,000 bonus in a cd that paid 6% interest and the rest in a fund that paid 11% interest. The total interest was 900, how much did invest in the fund?
Answer by tutorcecilia(2152)   (Show Source):
You can put this solution on YOUR website! I invested part of my 10,000 bonus in a cd that paid 6% interest and the rest in a fund that paid 11% interest. The total interest was 900, how much did invest in the fund?
Use: x+y=c
So, x+y=10,000
y=10,000-x
and
Use: ax+by=total
So, .06x+.11y=900
.06x+.11(10,000-x)=900[substitute y=10,000-x)
.06x+1100-.11x=900
.06x-.11x=900-1100
-.05x=-200
-0.5x/.05=-200/-.05
x=4,000
Substituting: 4,000+y=10,000
y=6,000
answers: I invested $4,000 at 6% and invested $6,000 at 11%
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