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college algebra

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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?

  • college algebra - ,

    Amt. Invested in fund A = $X.
    Amt. invested in fund B = $(15,000-X).

    Int. = Prt.
    t = 1yr.

    x*0.115*1 + (15000-x)*0.14*1 = $1950.
    0.115x + 2100 - 0.14x = 1950,
    -.025x = 1950 - 2100 = -150,
    X = $6,000.
    15000 - X = 15000 - 6000 = $9000.

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