Problema Solution
You have $6000 to invest in two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual interest. If after a year you have made $380 in interest, how much money did you invest in each account?
Answer provided by our tutors
let
x = the money invested in the first fund
y = the money invested in the second fund
You have $6000 to invest in two stock funds
x + y = 6000
5% annual interest from x + 9% annual interest from y = $380
0.05x + 0.09y = 380
by solving the system of equations
x + y = 6000
0.05x + 0.09y = 380
we find
x = $4,000
y = $2,000
click here to see the step by step solution of the system of equations
there were $4,000 invested in the first account and $2,000 invested in the second account.