You have $6000 to invest in 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?
Let x be the amount invested at 5%. Then the amount invested at 9% is 6000 - x. 0.05x + 0.09(6000 - x) = 380 Solving the equation gives: x = 4000. The answer is: $4000 invested at 5% and $2000 invested at 9%.
