You entered kente invested a total of $8000. he invested part of the money for 2yr in a stock fund that earned the equivalent of 6.5% simple interest. he put the remaining money in an 18 month certificate of deposit that earned 2.5% simple interest. if the total interest from both investments was $855 , determine the amount invested in each account?

Step-by-step explanation:

Given,

Kente invested part of money  for 2 yr in stock fund that earned the equivalent of 6.5 % simple interest.He put remaining money in a 18 month certificate of deposit that earn of 6.5%simple interest.

Let he invested in stock fund be$ x. Remaining money =$(8000-x)

∴He got interest from stock fund was =

                                                        =$   [here P =x , R = 6.5% and t = 2 yr]

                                                         =$  

Again he got interest from deposit was =

                                                               =$       [here P = (8000-x), R=2.5% and t =]                              

                                                                =$

According to problem

⇔

⇔18.5 x =171000 - 60000

⇔x =

⇔x = 6000

So he invested in stock fund was = $6000

and in certificate of deposit was =$(8000- 6000)= $ 2000

2

step-by-step explanation:

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