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 = $(15,000-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.