Maria C.

asked • 10/14/18

I don't understand how I would solve this simple interest problem using the I=prt formula given to me by the teacher. Please help me?

Kevin invested part of his 5000 bonus in a certificate of deposit that paid 2% annual simple interest, and the remainder in a mutual fund that paid 4% annual simple interest. If the total interest for that year was $190, how much did Kevin invest in the mutual fund?

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