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

Step-by-step explanation:

Answer 2

Answer:

$3500

Step-by-step 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

$\text{interest}=\frac{\text{principal}\times \text{rate} \times \text{time}}{100}$

Annual interest accrued from Fund A $=\frac{\text{x}\times5}{100}$

Annual interest accrued from Fund B $=\frac{(10000-\text{x})\times7}{100}$

Combined annual interest accrued$=\ 630$

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

$\frac{\text{x}\times5}{100}+\frac{(10000-\text{x})\times7}{100}$ $=\ 630$

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

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

$2\text{x}=7000$

$\text{x}=3500$

Amount invested in Fund A is $\ 3500$