Question

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

The amount of the 10000  invested in each Fund A is $5,300

First step is to calculate the amount invested in Fund  B

Let x represent the amount invested at 7%

.07x+.05(10000-x)=630

Open the bracket

.07x+500-.05x=630

Collect like terms

.02x=630-500

.02x=130

x=130/.02

x=$6,500

Second step

Now let calculate  How much of the $10,000 is invested in Fund  A

Fund A amount invested=10000-6500

Fund A amount invested=$3500

Inconclusion The amount o of the 10000  invested in each  Fund A is $5,300

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