Question

sam saved his money until he had $10000 to invest.he invested x dollars into certificate of deposit (cd) with an annual interest rate of 2% and the remaining y dollars into a mutual fund with annual interest of 1.5% total interest earned from both account one year was $193 dollars what is the value of y ?

Answer 1

well, x+y = 10000, so x=10000-y and you have

.02(10000-y)+.015y = 193

Answer 2

1400

Answer 3

$1,400