Question

A total of $10,000 is invested in 2 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

$3500 was invested at 5% annual interest and $6500 was invested at 7% annual interest.

What is an equation?

An equation is an expression that shows the relationship between two or more numbers and variables.

Independent variables represent function inputs that do not depend on other values, while dependent variables represent function outputs that depends on other values.

Let x represent the amount invested at 5% and y represent the amount invested at 7%. Hence:

x + y = 10000   (1)

Also:

0.05x + 0.07y = 630   (2)

Therefore:

x = 3500 and y = 6500

$3500 was invested at 5% annual interest and $6500 was invested at 7% annual interest.

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