Problema Solution
an investor deposited an amount of money into high-yield mutual fund that returns a 9% annual simple interest rate. A second deposit, $2,500 more than the first, was placed in a certificate of deposit that returns a 5% annual simple interest rate. The total interest earned on both investments for one year was $475. How much money was deposited in the mutual fund?
Answer provided by our tutors
x * 9/100 + (x + 2500)*5/100 = 475
14x + 12500 = 47500
x = 35000/14 = 2500
Total = $ 7500