Let we invest $X in 1st fund, then
0.115X+0.14(15000-X)=1950
0.115X+2100-0.14X=1950
150=0.025X
X=6000
suppose you invest $15,000 in two funds paying 11 1/2% and 14% simple interest.
the total annual interest is $1950. how much is invested in each fund?
1 answer
1 answer