contestada

Kevin invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simpleinterest, and the remainder in a mutual fund that paid 11% annual simple interest. if his totalinterest for that year was $700, how much did kevin invest in the mutual fund?

Respuesta :

TheBreeze

0.06x + 0.11(10000 - x) = 700

0.06x + 1100 - 0.11x = 700

0.05x = 400

x = 8000

10000-8000 = 2000

Kevin invested $2000 in the mutual fund.

Otras preguntas