Basic math question need help with

Mathematics
Tutor: None Selected Time limit: 1 Day

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

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
Oct 13th, 2015
...
Oct 13th, 2015
Dec 2nd, 2016
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