Question

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? and why ? PLZ HELP

Answer 1

4000 and 2000

Explanation:

X + Y = 6000

0,05x + 0,09y = 380

Y = 6000 - X

0,05x + 0.09(6000-x) = 380

0,05x + 540 - 0,09x = 380

540 - 380 = 0.04x

160 = 0,04x

X = 4000

Y = 6000 - 4000 = 2000