A total of $8000 is invested in 2 funds paying 4% and 5% annual interest. The combined annual interest is $350. How much of the $8000 is inv

Question

A total of $8000 is invested in 2 funds paying 4% and 5% annual interest. The combined annual interest is $350. How much of the $8000 is invested in each fund? Please show work!!

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RobertKer 2 days 2021-07-21T21:09:08+00:00 2 Answers 0 views 0

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    0
    2021-07-21T21:10:42+00:00

    Answer:

    $3000.

    Step-by-step explanation:

    $Po invested at 4%.

    $(8000-Po) invested at 5%

    Po*0.04*1 + (8000-Po)*0.05*1 = 350.

    0.04Po + 400 – 0.05Po = 350,

    Po = $5000.

    8000-Po = 8000-5000 = $3000.

    Hope this helps 🙂

    -ilovejiminssi♡

    0
    2021-07-21T21:10:49+00:00

    Answer:

    $5000 and $3000

    Step-by-step explanation:

    x = money invested in the first fund

    y = money invested in the second fund

    first equation: 0.04x + 0.05y = 350

    4x + 5y = 35000

    second equation: x + y = 8000

    x = 8000 – y

    Plug in x into the second equation:

    4(8000 – y) + 5y = 35000

    Solve:

    32000 – 4y + 5y = 35000

    y = 3000

    x = 8000 – y

    x = 8000 – 3000

    x = 5000

    $5000 and $3000

    Hope this helps!

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