SOLUTION: $6000 to invest in two stock funds. Fund A pays 5% while Fund B pays 9%. After a year, $380 is made in interest, how much money was invested in each account?
Question 700740: $6000 to invest in two stock funds. Fund A pays 5% while Fund B pays 9%. After a year, $380 is made in interest, how much money was invested in each account? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 5.00% per annum ------------- Amount invested =x
Part II 9.00% per annum ------------ Amount invested = y
6000
Interest----- 380
Part I 5.00% per annum ---x
Part II 9.00% per annum ---y
Total investment
x + 1 y= 6000 -------------1
Interest on both investments
5.00% x + 9.00% y= 380
Multiply by 100
5 x + 9 y= 38000.00 --------2
Multiply (1) by -5
we get
-5 x -5 y= -30000.00
Add this to (2)
0 x 4 y= 8000
divide by 4
y = 2000
Part I 5.00% $ 4000
Part II 9.00% $ 2000
