Basic math question need help with

label Mathematics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

The Community Relief Charity Group is earning 2.5% simple interest on the $2800 it invested in a savings account. It also earns 4.8% simple interest on an insured bond fund. The annual interest earned from both accounts is $382. How much is invested in the insured bond fund? 

Oct 13th, 2015

Thank you for the opportunity to help you with your question!

Interest for the savings account=2.5/100 * 2800*1=$70

Interest on insured bond=382-70=312

let investment on insured bond be x

4.8/100 * x *1=312

0.048x=312

x=$6500

Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 13th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Oct 13th, 2015
...
Oct 13th, 2015
Jun 26th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer