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17 January, 06:21

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 yea you have made $380 in interest, how much money did you invest in each account?

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  1. 17 January, 08:23
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    x = the money invested in the first fund

    y = the money invested in the second fund

    You have $6000 to invest in two stock funds

    x + y = 6000

    5% annual interest from x + 9% annual interest from y = $380

    0.05x + 0.09y = 380

    by solving the system of equations

    x + y = 6000

    0.05x + 0.09y = 380

    we find

    x = $4,000

    y = $2,000

    there were $4,000 invested in the first account and $2,000 invested in the second account.
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