Use a system of equations to solve the following problem.
An Investor decides to invest some cash in an account paying 11% annual interest, and to put the rest in a stock fund that ends up earning 15% over the course of a
year. The investor puts $2300 more in the first account than in the stock fund, and at the end of the year finds the total interest from the two investments was $1150.
How much money was invested at each of the two rates? Round to the nearest Integer.

Question

07-12-2022
Mathematics

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Use a system of equations to solve the following problem.
An Investor decides to invest some cash in an account paying 11% annual interest, and to put the rest in a stock fund that ends up earning 15% over the course of a
year. The investor puts $2300 more in the first account than in the stock fund, and at the end of the year finds the total interest from the two investments was $1150.
How much money was invested at each of the two rates? Round to the nearest Integer.

Sagot :

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