l Split Fund Interest with Principal of 6000 and Fund 1 = 8% and Fund 2
Principal =
Fund 1 Interest = %
Fund 2 Interest = %
Total Interest paid =
  

Answer
2900 into Fund 1
3100 into Fund 2

↓Steps Explained:↓



An investment of 6000 was made one year ago.

Part of the investment was placed into an account paying s interest at 8%

The remainder of the investment was placed into an account paying s interest at 6%

After one year, you received a total of 418 in interest. How much was invested in each account?

Calculate Principal Amounts for each fund:

For Fund 1, we invest an unknown amount, let us call it x

For Fund 2, the remaining principal is 6000 - x

Calculate Interest Credit for Fund 1

Since Fund 1 credits interest using the simple interest method, we have 0.08x

Calculate Interest Credit for Fund 2

Since Fund 2 credits interest using the simple interest method, we have 0.06(6000 - x)

Set up a grid with fund details:

  Interest PaidPrincipalInterest Rate
Fund 10.08xx8%
Fund 20.06(6000 - x)(6000 - x)6%
Total4186000--

Calculate x from the grid:

Since both Interest paid columns add up to the total interest earned of 418, we set up an equation

0.08x + 0.06(6000 - x) = 418

0.08x + 360 - 0.06x = 418

360 + 0.02x = 418

Subtract 360 from each side:

360 - 360 + 0.02x = 418 - 360

Cancelling the 360 on the left side, we get:

0.02x = 58

Divide each side by 0.02

0.02x
0.02
=
  
58
0.02

Cancelling the 0.02 on the left side, we get:

x = 2900 ← Fund 1 Investment

This means we should 6000 - 2900 = 3100 into Fund 2

Final Answer

2900 into Fund 1
3100 into Fund 2

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