You have $6000 to invest in two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual interest. If after a year you have made $380 in interest, how much money did you invest in each account?

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Answer 1 · 2016-06-04T02:55:28

4000 @ 5%
2000 @ 9%

Let #x# be the amount invested at 5%.

Since the total amount to invest is $6000, the amount invested at 9% is

#6000 - x#

In 1 year, the interest earned for the 5% investment is

#0.05x#

Meanwhile, the interset earned for the 9% investment is

#0.09(6000 - x)#

#0.05x + 0.09(6000 - x) = 380#

#=> 5x + 9(6000 - x) = 38000#

#=> 5x + 54000 - 9x = 38000#

#=> -4x = -16000#

#=> x = 4000#

#=> 6000 - x = 2000#