Liam invested some money in the Abernathy fund at 7% simple interest and twice as much at twice the rate in the carlson fund. If the simple-interest income from the two funds totaled 1406.30, then how much was invested in each fund

Question

mertsj · Answer

x= amount in Abernathy fund
y= amount in Carlson fund
y=2x
.07 x = interest from money in Abernathy fund
.14y= interest from money in Carlson fund
.07x+.14y=1406.30
Substitute and solve.