Answered: You invested $9000 in two funds paying…

You invested $9000 in two funds paying 6% and 7% annual interest. At the end of the year, the total interest from these investments was $610. How much was invested at each rate?

Elementary Algebra

17th Edition

ISBN:9780998625713

Author:Lynn Marecek, MaryAnne Anthony-Smith

Publisher:Lynn Marecek, MaryAnne Anthony-Smith

Chapter3: Math Models

Section3.3: Solve Mixture Applications

Problem 3.65TI: Remy has $14,000 to invest in two mutual funds. One fund pays interest at 4% per year and the other...

See similar textbooks

Related questions

Q: you invested $7000 between two accounts playing 5% and 9% annual interest, respectively. if the…

A: Given data: The total amount invested in the accounts is: x+y=$70000. The rate of interest on…

Q: You invested $6000 between two accounts paying 2% and 8% annual interest, respectively. If the…

Q: You invested $11,000 in two accounts paying 7% and 8% annual interest, respectively. If the total…

Q: John was in Miami, he visited his investment house and invested a total of US$12,000, a fraction at…

A: Given query is to find the investment in each rate.

Q: Kaylee paid full price for an item. Jacob bought the same item for 80% of the full price. Kaylee did…

Q: You invested $8000 between two accounts paying 3% and 9% annual interest, respectively. If the…

Q: You invested $ 4000 between two accounts paying 6 % and 8 % annual interest, respectively. If the…

A: It is given that $4000 was invested between two accounts paying 6% and 8% annual interest.

Q: Phyllis invested 47000 dollars, a portion earning a simple interest rate of 5 percent per year and…

A: Given that

Q: Four investors bought a real estate asset together and decided to divide the profits equally.…

Q: a person won 20000 and paid taxes of 25%. the remainder was invested partly for a 40% gain and a 10%…

Q: Karen Waugtal invested some money at 9% annual simple interest and $250 more than that amount at 10%…

A: If amount P is invested at r% simple interest then the interest obtained at the end of a year equals…

Q: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

A: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

Q: Langston has $62 and wants to buy a new guitar. To do so, he will need at least $200 plus 7% sales…

A: NOTE: Refresh your page if you can't see any equations. . the cost of the guitar is $200 plus 7%…

Q: A professor wants to supplement her pension with investment interest. If she invests $25,000 at 8%…

Q: You invested $7000 in two accounts paying 6% and 8% annual interest. If the total interest earned…

Q: you invested $5000 between two accounts paying 6% and 7% annual interest respectively if the total…

A: Given, total investment is $5000 between two accounts paying 6% and 7% annual interest…

Q: You invested $6000 between two accounts paying 4% and 5% annual interest, respectively. If the total…

Q: You invested $7000 between two accounts paying 5% and 8% annual interest, respectively. If the total…

Q: Phyllis invested $12,500, a portion earning a simple interest rate of 4% per year and the rest…

Q: You invested $23,000 in two accounts paying 8% and 9% annual interest, respectively. If the total…

A: To solve the given question we first set up an equation with the help of a unknown variable ,then we…

Q: A person inherited $30,000 and invested the money in two accounts that earned 8.5% and 10% simple…

Q: you invested $3000 between two accounts paying 6% and 9% annual interest, respectively. If the total…

Q: Nina receive an inheritance of $12500 from her grandmother. She invested part of it at 5% interest,…

A: Nina receive an inheritance of $12500 from her grandmother. She invested part of it at 5% interest,…

Q: It cost P50,000 at the end of each year to maintain a section of Kennon road. If money is worth 10%,…

A: Given that, The cost at the end of each year to maintain a section of Kennon road is P50,000 money…

Q: Barry sells bicycles on a salary-plus-commission basis. He receives a weekly salary of $300 and a…

A: Given Weekly salary = $300 Commission for each bicycle = $15

Q: Emanuel paid $39 more for phone service in December than in November. He paid a total of $343 for…

A: Given that, total bill paid for the phone service in the month of November and December = $343…

Q: Bruce Blossum invested a sum of money at 10% annual simple interest and invested twice that amount…

A: Let the amount invested at 10% annual simple interest be equal to $x. Then the amount invested at…

Q: A farmer sold 500 oranges, the big at 40 cents and the small at 25 cents each. The money he…

Q: A woman bought a number of items for $120. She realized that if she had bought 15 more items for the…

A: Given Let x be the number of items she bought A woman bought a number of items for $120 that is she…

Q: Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 10…

A: Let the amount invested in 10% interest account = x.Then the amount in 3% yield account=2x

Q: You invested $18,000 in two accounts paying 7% and 8% annual interest, respectively. If the total…

A: Solution:

Q: Luisa invested $30,000, part at 9% and another part at 5%. If the total profit he receives is $1,950…

Q: Michael invested a certain amount of money at 3% interest and $750 more than that amount at 5%. His…

Q: Ms. Jones invested $25,000 in two accounts, one yielding 4% interest and the other yielding 8%. If…

Q: Phyllis invested $12,000, a portion earning a simple interest rate of 4 1/ 2% per year and the rest…

A: Amount invested = Principal = 12000 $Let, one part of the invested be = xThen, second part will be =…

Q: A bank loaned out $11,500, part of it at the rate of 15% annual interest, and the rest at 6% annual…

Q: A woman bought a number of items for $48. She realized that if she had bought 10 more items for the…

A: Let Number of items = n Price per item = p

Q: A sum of $15,000 was invested in two municipal bonds, which pay 7% and 9% simple interest. The…

A: Let money invested at 7% interest rate = x Money invested at 9% interest rate = y Simple interest at…

Q: The manufacturer sold a product at 10 rials per unit and sold all that was produced. The fixed cost…

A: Given that: Selling price of each product = 10 rials/unitFixed cost = 500…

Q: You invested $4000 between two accounts paying 6% and 8% annual interest. If the total interest…

A: Let I invested x in 6% and (4000-x) in 8% account. So, interest from 6% account after 1 year =…

Q: Phyllis invested $12,500, a portion earning a simple interest rate of 4÷% per year and the rest…

Q: You invested $12,000 in two accounts paying 8% and 9% annual interest, respectively. If the total…

A: Take, money invested at 8% = x money invested at 8% = 12000-x

Q: Ms. Walsh invested $22,000 in two accounts, one yielding 7% interest and the other yielding 8%. If…

Q: Ms. Burke invested $13,000 in two accounts, one yielding 6% interest and the other yielding 10%. If…

A: Total amount Ms Burke invested in two accounts = $13,000 Total interest earned from both banks =…

Q: A customer bought $120 worth of coffee at $15 per pound and $72 worth of coffee at $18 per pound. On…

A: Given:

Q: A man's annual income from two investments was ₱28,750. He invested a part of his money at 5% and an…

Q: The population of a town increased by 4% from 32,000. What was the population after the increase?

A: This question is related to percentages, we will solve it using given information.

Q: an artist invests in a mutual fund account paying 8% and $8000 more than three times as much in a…

A: To find the amount she should invest at each rate

Q: Phyllis invested $7,000, a portion earning a simple interest rate of 6% per year and the rest…

A: Let X amount we invest at 6 1/4% per year Show the remaining amount $7,000 - x is invest at 6% per…

Question

You invested $9000 in two funds paying 6% and 7% annual
interest. At the end of the year, the total interest from these
investments was $610. How much was invested at each
rate?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Given

VIEW

Step 2:Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Susana invested a principal of $36,000 in her bank account that earned simple interest at an interest rate of 6.5%. How much interest did she earn in three years?
Remy has $14,000 to invest in two mutual funds. One fund pays interest at 4% per year and the other fund pays interest at 7% per year. How much should she invest in each fund if she wants to earn 6.1% interest on the total amount?
One serving of wheat square cereal has seven grams of fiber, which is 28% of the recommended daily amount.What is the total recommended daily amount of fiber?
In five years, Gloria’s bank account earned $2,400 interest at 5% simple interest. How much had she deposited in the account?
Karl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what would his monthly deposits need to be if he invests in an account offering a 4.2% annual interest rate that compounds monthly?
What is the total effect on the economy of a government tax rebate of $1,000 to each household in order to stimulate the economy if each household will spend 90% of the rebate in goods and services?
One serving of wheat square cereal has 7 grams of fiber, which is 28% of the recommended daily amount. What is the total recommended daily amount of fiber?
Areli invested a principal of $950 in her bank account with interest rate 3%. How much interest did she earn in 5years?
Jim lent his sister $5,000 to help her buy a house. In three years, she paid him the $5,000, plus $900 interest. What was the rate of simple interest?
Tiffany just graduated from college and her new job will pay her $20,000 per year plus 2% of all sales. She wants to earn at least $100,000 per year. For what total sales will she be able to achieve her goal?
Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount with 8.2 APR, compounding daily, in orderto reach his goal in 5 years?