Question

Question 5

5 pts
A total of $10,000 is invested in two funds, Fund A and Fund B. Fund A pays 5% annual
interest and Fund B pays 7% annual interest. The combined annual interest is $630.
How much of the $10,000 is invested in Fund A?

Answer 1

Answer:anwser would be c

Explanation:

Answer 2

$3500

Explanation:

Given: A total of $10,000 is invested in two funds, Fund A and Fund B. Fund A pays 5% annual interest and Fund B pays 7% annual interest. The combined annual interest is $630.

To Find: How much of the $10,000 is invested in Fund A

Solution:

Total amount invested
`=\$ 10000`

Let the amount invested in Fund A
`=\text{x}`

The Amount invested in Fund B
`=\$ 10000-\text{x}`

We know that

`\text{interest}=\frac{\text{principal}* \text{rate} * \text{time}}{100}`

Annual interest accrued from Fund A
`=\frac{\text{x}*5}{100}`

Annual interest accrued from Fund B
`=\frac{(10000-\text{x})*7}{100}`

Combined annual interest accrued
`=\$ 630`

Combined annual interest accrued = Annual interest accrued from Fund A+ Annual interest accrued from Fund B

`\frac{\text{x}*5}{100}+\frac{(10000-\text{x})*7}{100}`
`=\$ 630`

`\frac{5\text{x}+70000-7\text{x}}{100}=630`

`\frac{70000-2\text{x}}{100}=630`

`2\text{x}=7000`

`\text{x}=3500`

Amount invested in Fund A is
`\$ 3500`