Asked by Elle
A total of 8000 dollars is invested in two funds paying 4 percent and 5 percent annual interest,. The combined interest for the year is 350 dollars. How much of the 8000 dollars is invested in each fund?
Answers
Answered by
bobpursley
funds:
8000=F1 + F2 where f1 and f2 are each of the twofunds.
income;
F1*.04+F2*.05=350
then you solve either F2, or F1 by substution, then go back and solve the other.
8000=F1 + F2 where f1 and f2 are each of the twofunds.
income;
F1*.04+F2*.05=350
then you solve either F2, or F1 by substution, then go back and solve the other.
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