SOLUTION: Gundeep invests a total of $5000 in two
funds. One fund pays interest at 4% per year
and the second fund pays interest at 6% per
year. At the end of the year, Gundeep has
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-> SOLUTION: Gundeep invests a total of $5000 in two
funds. One fund pays interest at 4% per year
and the second fund pays interest at 6% per
year. At the end of the year, Gundeep has
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Question 724063: Gundeep invests a total of $5000 in two
funds. One fund pays interest at 4% per year
and the second fund pays interest at 6% per
year. At the end of the year, Gundeep has
earned $270 in interest. How much did
Gundeep invest in each fund? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! Part I 4.00% per annum ------------- Amount invested =x
Part II 6.00% per annum ------------ Amount invested = y
5000
Interest----- 270
Part I 4.00% per annum ---x *
Part II 6.00% per annum ---y
Total investment
x + 1 y= 5000 -------------1
Interest on both investments
4.00% x + 6.00% y= 270
Multiply by 100
4 x + 6 y= 27000.00 --------2
Multiply (1) by -4
we get
-4 x -4 y= -20000.00
Add this to (2)
0 x 2 y= 7000
divide by 2
y = 3500 - x)
Part I 4.00% $ 1500
Part II 6.00% $ 3500
0.8
CHECK 0.75
1500 --------- 4.00% ------- 60.00 260
3500 ------------- 6.00% ------- 210.00
Total -------------------- 270.00
