Math Problem Statement
Tom invests part of Php.12,000 in a stock that pays 5% annually and the rest in a mutual fund that pays 8% annually. If Tom earns Php.720 in interest after one year, how much did he invest in each?
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Linear Equations
Simple Interest
Formulas
Simple Interest formula: Interest = Principal × Rate × Time
Linear equation: 0.05x + 0.08(12,000 - x) = 720
Theorems
Basic linear equation solving
Suitable Grade Level
Grades 8-10
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