college algebra
posted by sue .
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?

Amt. Invested in fund A = $X.
Amt. invested in fund B = $(15,000X).
Int. = Prt.
t = 1yr.
x*0.115*1 + (15000x)*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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