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A total of $10,000 is invested in two funds, Fund A and Fund B. Fund A pays 5% annual interest and Fund B pays 7% annual interest. The combined annual interest is $630. How much of the $10,000 is invested in Fund B

Respuesta :

calculista

Answer:

The amount put in the account that paid 7% ( Fund B) was $6,500

Step-by-step explanation:

Let

x -----> the amount put in the account that paid 5% (Fund A)

$10,000-x -----> the amount put in the account that paid 7% (Fund B)

in this problem we have

[tex]5\%=5/100=0.05[/tex]

[tex]7\%=7/100=0.07[/tex]

so

[tex]630=x(0.05)+(10,000-x)0.07[/tex]

[tex]630=0.05x+700-0.07x[/tex]

[tex]0.07x-0.05x=700-630[/tex]

[tex]0.02x=70[/tex]

[tex]x=\$3,500[/tex]

[tex]\$10,000-x=\$6,500[/tex]

therefore

The amount put in the account that paid 7% ( Fund B) was $6,500

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