Question 356692: a total of 15000 is invested in two funds paying 4%and 5% simple interest. the annual interest is $700. how much is invested in each fund? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! total investment = $15000
4% --------------- $x
5%-----------------$15000-x
..
interest = $700
...
0.04x+0.05(15000-x)=700
0.04x+750-0.05x=700
-0.01x=-50
x= -50/-0.01
x= 5000 at 4%
balance 10000 at 5%
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m.ananth@hotmail.ca
