Use the simple interest formula.
-Kevin invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total interest for that year was $700,
How much did Kevin invest in the mutual fund?
A) $2000
B) $3000
C) $8000
D) $1000

Question

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The Answer of Use the simple interest formula.
-Kevin invested part of his $10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund that paid 11% annual simple interest. If his total interest for that year was $700,
How much did Kevin invest in the mutual fund?
A) $2000
B) $3000
C) $8000
D) $1000

Use the Simple Interest Formula