Alorah
Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Explore thousands of questions and answers from a knowledgeable community of experts ready to help you find solutions. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

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 yea you have made $380 in interest, how much money did you invest in each account?

Sagot :

GrahamCracker32

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

there were $4,000 invested in the first account and $2,000 invested in the second account.
We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.