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I have seen that a lot of people have been doing very poorly on the QR section and I am starting to get very nervous so I have been looking around the internet for practice problems. I am curious whether either of these two problems were representative of the length and/or difficulty of of the problems on the dat.
1) An investor deposited an amount of money into a high-yield mutual fund that returns a 9% annual simple interest rate. A second deposit, $2,500 more than the first, was placed in a certificate of deposit that returns a 5% annual simple interest rate. The total interest earned on both investments for one year was $475. How much money was deposited in the mutual fund?
2) The manager of a mutual fund placed 30% of the fund's available cash in a 6% simple interest account, 25% in 8% corporate bonds, and the remainder in a money market fund that earns 7.5% annual simple interest. The total annual interest from the investments was $25,875. What was the total amount invested?
1) An investor deposited an amount of money into a high-yield mutual fund that returns a 9% annual simple interest rate. A second deposit, $2,500 more than the first, was placed in a certificate of deposit that returns a 5% annual simple interest rate. The total interest earned on both investments for one year was $475. How much money was deposited in the mutual fund?
2) The manager of a mutual fund placed 30% of the fund's available cash in a 6% simple interest account, 25% in 8% corporate bonds, and the remainder in a money market fund that earns 7.5% annual simple interest. The total annual interest from the investments was $25,875. What was the total amount invested?
