Basic math question need help with

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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

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