Asked by Heaven
a total of 10,000 is invested in two mutual funds. the first account yields 5% and the second account yields 6%. how much is invested in each account if the interest in a year in $575?
Answers
Answered by
Henry
$X invested in 1st acc.
(10,000-x) invested in 2nd acc.
I = I1 + I2 = X*r1*t + (10,000-x)*r2*t = 575.
X*.05*1 + (10,000-x)*.06*1 = 575.
X = ?.
(10,000-x) invested in 2nd acc.
I = I1 + I2 = X*r1*t + (10,000-x)*r2*t = 575.
X*.05*1 + (10,000-x)*.06*1 = 575.
X = ?.
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