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?

Question

Avery Alexander · Accepted Answer

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#

Jameson Allen · Answer

undefined Let's denote the amount invested in the first fund as $ x $ dollars and the amount invested in the second fund as $ 6000 - x $ dollars. Using the given interest rates, we can set up the following equation:

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

Solving this equation will give us the amount invested in each account.