Question

set up trust fund, 1 part earning 8% simple interest pr yr and the rest of it is earning 5%.
principle = 7000
trust fund earned $470 in 1st year how much invested in both rates
thanks in advance

Answer 1

8% of $5875 is $470, so $5875 was invested with 8% interest.
To find the rest of the money invested, take $7000 - $5875, which equals $1125.
In the end, $5875 was invested with 8% and $1125 was invested with 5%.