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 y

Question

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?

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    2022-01-05T21:50:45+00:00

    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%.

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