Liam invested some money in the Abernathy Fund and $8,436 more than that amount in the Carlson Fund. For the year he was in these funds, the Abernathy fund paid 8% simple interest and the Carlson Fund paid 11% simple interest. If the income from the two funds totalled $2,175.12, then how much was invested in each fund?
A) $6,564 in Abernathy and $15,000 in Carlson
B) $16,500 in Abernathy and $8,064 in Carlson
C) $8,064 in Abernathy and $16,500 in Carlson
D) $15,000 in Abernathy and $6,564 in Carlson

Question

Quizplus · Accepted Answer

Let the amount invested in the Abernathy Fund be $x$. Therefore, the amount invested in the Carlson Fund is $x + 8,436$. The total income from both funds is given by the equation: $0.08x + 0.11(x + 8,436) = 2,175.12$. Solving this equation for $x$ gives the amount invested in the Abernathy Fund, and adding $8,436 to $x$ gives the amount invested in the Carlson Fund. The correct amounts match choice A: $6,564 in Abernathy and $15,000 in Carlson.

Liam Invested Some Money in the Abernathy Fund and $8,436