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TY
TY asked in Science & MathematicsMathematics · 6 years ago

Word problem: How much is invested in each interest rate?

Franco invested $4000 in money market funds. Part was invested at 14% interest, the rest at 11% interest. At the end of each year, the fund company pays interest. After one year he earned $482 in simple interest. How much was invested in each interest rate?

I need this answered asap please!

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  • ted s
    Lv 7
    6 years ago

    x + y = 4000 ; 0.14 x + 0.11y = 482 ; solve for x & y

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