9514 1404 393
Answer:
- 4% fund: $39,000
- 52% fund: $1000
Step-by-step explanation:
Let x represent the amount invested at 52%. Then (40000-x) is the amount invested at 4%. The total annual interest is ...
0.52x +0.04(40000-x) = 2080
0.48x = 480 . . . . . . . . . subtract 1600, simplify
x = 1000 . . . . . . . . . divide by 0.48
Then the amounts invested in each fund are ...
4% fund: $39,000
52% fund: $1000
